Analyst Chen Shu: 11.13 Afternoon Bitcoin and Ethereum Market Strategy *No. 1, Short-term Pullback Trend is Obvious, Initially Look for Short at 8.4 Support
On November 12, the afternoon analysis provided a long strategy, going long at 8.77/3300. The European session began with a rapid decline to the 8.55/3220 low, followed by a rebound to the 8.99/3300 high before entering a pullback. Currently, after a clear short-term pullback, please see the following analysis for operational guidance.
From the daily chart of Bitcoin, yesterday's daily candle closed with a small bearish K-line with a lower shadow, temporarily halting the daily upward trend. Pay attention to whether the price will retest the daily MA5 moving average (84000) today; on the 4-hour chart, after another failed attempt to reach the 8.99 high last night, three green K-lines have formed, and the price has currently broken below the 4-hour MA5/10 moving averages. The short-term outlook shows a clear pullback, and it is recommended to operate with a short first and then a long trend today, with support focused on the 8.4 daily support.
From the daily chart of Ethereum, yesterday closed with a large bearish candle, continuing today. The current price shows a trend of retesting the daily MA256 moving average (3065). The short-term outlook is also quite bearish, with initial support at 3060. If this level is breached but can hold, a range-bound movement may occur; otherwise, it will test the daily MA10 at around 2950.
Afternoon Operational Thoughts (Written at: 15:00):
BTC: Light short near 8.68, add to short on a rebound to 8.72, target 8.5. If it breaks, reduce positions and hold for a look at around 8.4 (consider going long if it first touches 8.4 on the way down, but overall maintain the short first and then long strategy).
ETH: Light short near 3140, add to short on a rebound to 3180, target 3060. If it breaks, reduce positions and hold for a look at 2950. Consider following Bitcoin for long positions.
Note: The short-term pullback trend is quite obvious. At this position, do not go long; consider long positions at 8.4/3050, but it depends on the specific trend. For now, focus on short positions, and there is no rush for long positions.
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