Analyst Chen Shu: March 29 Afternoon Bitcoin and Ethereum Market Strategy Report, Bears Establish Short-Term Support at 80,000

Last night’s strategy analysis suggested a short position for Bitcoin at the current price of 8.43 and for Ethereum at 1890, with short positions gaining 1000 points, confirming the strategy was correct! From the daily chart of Bitcoin, yesterday's daily candle closed as a solid green K-line, with the price breaking below the daily MA30 moving average, bringing the price back below all moving averages. The daily support is seen at the MA256 moving average, which is the 80,000 level. Based on the current daily/weekly trend, there is a high possibility of a downward pullback testing the 80,000 level; on the 4-hour chart, the price has broken below the MA120 moving average, and the short-term rebound lacks strength. It is recommended to focus on shorting during rebounds.

From the daily chart of Ethereum, yesterday's daily candle also closed as a solid green K-line, and the short-term trend has once again fallen into a weak narrow range of fluctuations. The upper range of 2030-1980 is a clear resistance level for the short term. On the 4-hour chart, the short-term fluctuations are beginning to narrow, with reduced trading volume, and the support to watch below is around 1800.

Afternoon Trading Thoughts (Written at: 14:00):

BTC: For Saturday, treat the range of 8.43-8.35 with high selling and low buying, with trend analysis to be provided tomorrow.

ETH: Treat the range of 1910-1870.

The daily analysis strategy has a very high win rate! Analysis is not easy, and 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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