Analyst Chen Shu: Is Bitcoin and Ethereum stabilizing at the bottom and starting to rebound on November 17? Pay attention to the pressure break at 9.66.

From the daily chart of Bitcoin, after a low-level consolidation over the weekend, it has temporarily stopped falling around the 9.3 level. The initial focus for the daily rebound is on the breakthrough of the MA5 moving average. On the hourly level, after rebounding to the high point of 9.66 yesterday, it has once again pulled back. Looking at the candlestick chart, 9.66 is also the previous short-term rebound high point resistance. Opportunities to go long can be considered after a breakthrough and stabilization above 9.66. Currently, it is still possible to look for opportunities to go long during the low-level consolidation, anticipating a rebound.

From the daily chart of Ethereum, the daily trend is basically consistent with the analysis in previous articles. The MA256 moving average at 3100 has successfully supported the current short-term support level. As long as this level is not completely broken, the focus should still be on going long. On the hourly level, pay attention to the breakthrough and stabilization of the previous 3250 resistance level. If it breaks through and stabilizes, consider going long.

Afternoon trading strategy (written at 13:30):

BTC: Current price 9.48 long, add to long on a pullback to 9.38, target 9.6/9.7; consider entering short above 9.75.

ETH: Current price 3180 long, add to long on a pullback to 3100, target 3250/3400; consider entering short around 3300/3400.

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; I will reply to each one.

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