Analyst Chen Shu: Successful profit-taking on short positions at 8.6, looking to go long at 11.2 support, midnight market analysis / accompanying trading strategy

Market Analysis: The daily candlestick for Bitcoin currently shows a reversal bearish engulfing pattern, with the price breaking below the key support at 11.4. If it continues to retrace downwards, the next support level to watch is 11.15, which can serve as an entry point for long positions. The 4-hour chart currently shows a large bearish candlestick breaking below the MA256 daily moving average. Focus on the support levels at 11.2/11.15 and prepare to go long for a rebound. For Ethereum, pay attention to the support level at 3530, which is the previous high during the consolidation phase. Short-term trading advice is to prepare to go long around the 3500 level for a rebound.

Trading Strategy (Published at: 0:00):

BTC: Initially short at the market price of 11.3/11.35, target 11.2/11.15; then attempt to go long with a small position in the 11.2/11.15 range, aiming for a rebound of around 2000 points. ETH: Initially short at the market price of 3580/3600, target 3530/3500; then go long with a small position at 3520/3480, aiming for a rebound of around 60-100 points.

The daily analysis strategy has a very high win rate! Analysis is not easy, so I hope everyone can give a free follow, save, like, and comment. Thank you all, and feel free to leave comments below for discussion; I will reply to each one!

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