Analyst Chen Shu: November 9 Midnight Bitcoin and Ethereum Market Strategy *2, Successful Profit Taking on Long Positions, Looking for a Correction in the Night Market
On November 8 at midnight, the analysis provided long positions at 7.56/2890, which basically gave entry opportunities. The market rebounded to a high point of 7.66/2960, with long positions making a profit of 1000/70 points. Congratulations to those who followed the operation. Currently, the short-term narrow fluctuations continue to maintain strength. Please see the following analysis for how to operate.
From the daily chart of Bitcoin, a small doji candlestick has formed again, and the overall market maintains a narrow range of fluctuations. The upward momentum is gradually slowing down, and the trend of unilateral rise is weakening. From the 4-hour chart, the price is gradually stagnating around 7.6. If it loses the 4-hour MA10 moving average, then the short-term strong upward trend will temporarily end, entering a correction phase. The support level to watch is the loss of the 4-hour MA5/10 moving averages.
From the daily chart of Ethereum, a small red candlestick has formed today. The 4-hour chart shows a short-term resistance level at around 2960, which is also the pressure level of the weekly MA30 moving average. Pay attention to the breakthrough situation of this resistance level, and similarly, watch the breaking situation of the 4-hour MA5/10 moving averages for support. Midnight operation thoughts (writing time: 02:00):
BTC: Light short near 7.65, stop loss 500 points, target at 7.55/7.5
ETH: Light short near 2930, stop loss 30 points, target at 2880/2860
Note: Since tomorrow is Saturday, the overall market is expected to show narrow fluctuations, treating the overall market as small range oscillations. If it breaks below the 4-hour MA5/10 moving averages, then the short-term will enter a fluctuating market; conversely, it will still be treated as high-level narrow fluctuations.
The daily analysis strategy has a very high win rate! Analysis is not easy, and I hope everyone can give a free follow, bookmark, like, and comment. Thank you all, and feel free to leave comments below for discussion; I will reply one by one!
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