Analyst Chen Shu: 2.17 Afternoon Bitcoin and Ethereum Market Strategy * 1: Slightly volatile market waiting for a breakout
On 2.16, the afternoon article analysis provided Bitcoin and Ethereum long and short strategies. For Bitcoin, a long position was suggested at 9.73/9.68, while for Ethereum, a long position was suggested at 2700/2650. Yesterday's market saw slight downward adjustments. Please see the following analysis for how to operate in the current short-term weak volatility.
From the daily chart of Bitcoin, it appears to be oscillating around the daily MA5/10 moving averages, with recent movements primarily within the 9.5-9.8 range. The resistance levels are at 9.68/9.85, and the support level is at 9.3. On the 4-hour chart, the price has broken below the MA30/60 moving average support at 9.7, returning to a weak oscillating pattern. The key resistance level above is 9.68, so we should pay attention to whether it can break and stabilize above this line again.
From the daily chart of Ethereum, the price is oscillating narrowly around the MA5/10 moving averages, with support at the 2600 level, which is the short-term low point of the oscillation. The resistance level above is at 2700, mainly oscillating within this range. We should focus on the breakout situation and direction of this range.
Afternoon Operation Ideas (Written at: 14:30):
BTC: Long at 9.56, add to long on a pullback to 9.5, target 9.6/9.7; above 9.7/9.8, try a light short position.
ETH: Light long at 2660, add to long at 2630, target 2700/2750; follow Bitcoin for short positions.
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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