Analyst Chen Shu: 9.7 Trend Looks Weak, Rebound Still Needs to Short, Weekly Review and Trend Analysis

Bitcoin's highest rebound point this week is at the 11.33 line, which is currently the weekly MA5/10 moving average resistance level. The weekly chart currently shows a red candlestick with an upper shadow, indicating a clear bearish trend. The daily chart focuses on the breakthrough and stability of the MA120 moving average at the 11.09 line. If it can stay above this line, there is a chance for a rebound; otherwise, it will directly look for a bearish pullback to the 10.15 line low. The hourly level is currently fluctuating around the MA256 moving average at the 11.03 line, and this line can be viewed as a dividing line for long and short positions.

Ethereum's weekly chart has broken below the MA5 moving average, and the short-term trend is basically determined to be weak, with the support level focusing on the 4060 line. The daily chart shows that as the MA30 moving average continues to rise, the current price remains below all moving averages. The key resistance levels to watch in the short term are at 4320/4420. Before breaking through and stabilizing above this line, it is advisable not to consider going long for a rebound. The 4-hour short-term support focuses on the MA256 moving average at the 4200 line, as well as the recent low of 4230. Pay attention to the breakout situation at this line; if it breaks, it may fall to the 4060 line in the short term.

Afternoon Operation Strategy (Written at: 15:30):

BTC: Short at 11.1, add to short at 11.18 on rebound, target 11,000/10.95; consider going long at 10.8/10.7 for a 1-2000 point rebound.

ETH: Short at 4330, add to short at 4380 on rebound, target 4250/4220; small stop loss for long at 4200/4060, looking for a 5-80 point rebound.

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

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