Zhou Yanling: 10.31 Bitcoin BTC Ether ETH today's latest trend prediction analysis and trading strategy

The Federal Reserve lowered interest rates by 25 basis points as scheduled, but what surprised the market was that Powell released extremely hawkish signals, stating that "a rate cut in December is far from a certainty," which directly caused the market to collapse. U.S. stocks fell sharply from high levels, the dollar rose, and the cryptocurrency market also plummeted, with the reduction of the balance sheet being postponed until December. As a result, the market has temporarily tightened its expectations for a rate cut in December, meaning that the expectation for a rate cut has temporarily fallen through. However, there is still more than a month until mid-December, and during this period, with fluctuations in data, expectations are likely to heat up again, so there's no need to be overly pessimistic.
From a technical perspective, the Bitcoin daily chart shows a continuous decline in recent trends, forming multiple bearish candles, overall presenting a weak pattern. Yesterday's candlestick had a long upper shadow, indicating significant selling pressure from above. On the hourly chart, the price is fluctuating around 108000, with lower lows gradually moving down. The technical indicator MACD on the hourly chart is in negative territory, with both DIF and DEA diverging downwards. The momentum bars are shrinking but still remain green, indicating a clear bearish trend. The RSI on the hourly chart is at 36.95, close to the oversold zone, but has not yet entered a strong rebound signal; the daily RSI remains below 40, indicating weak market sentiment. The EMA on the hourly chart shows a bearish arrangement for the 7, 30, and 120 moving averages, with the EMA7 being quite far from the current price, indicating significant short-term pressure; the daily EMA also shows a bearish arrangement, with the EMA30 posing considerable resistance to the price. In the short term, the currency price is weak but is near a critical support level, so the trading strategy for the day can primarily focus on short positions for rebounds, with long positions as a secondary option.
Zhou Yanling 10.31 BTC trading strategy:
1. Short from 109600 to 108800, stop loss above 110600, target 106800 to 106000, continue to look for a downward move near 104500.
2. More than 104500-105300, stop loss below 103500, target 106700-107500
Zhou Yanling 10.31 Ether trading strategy:
1. Short 3840-3800, stop loss above 3900, target 3680-3630
2. Buy between 3630-3670, with a stop loss below 3580, target 3750-3800.
【The above analysis and strategy are for reference only. Please bear the risk yourself. The article review and publication may have delays, and the strategies may lack timeliness. Specific operations should follow Yanling's real-time strategies.】
The content of this article is exclusively shared by senior analyst Zhou Yanling. The author has been engaged in financial market investment research for over ten years and currently focuses on analyzing and guiding the trading of BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrencies in both contracts and spot markets. With a solid theoretical foundation and practical experience, the author excels in a combined approach of technical and news analysis, emphasizes capital management and risk control, and is recognized by many investment friends for a steady and decisive trading style, along with an easygoing yet responsible character.