Analyst Chen Shu: 6.2 Short-term Stop Loss Focus on Breakout Range, Midday Bitcoin and Ethereum Market Analysis Strategy
From the daily chart of Bitcoin, the price has stopped falling after retracing to the daily MA30 moving average. Over the weekend, two trading days closed with small bullish candles, and the current price is maintaining a range of 10.45-10.67 for consolidation. Pay attention to the breakout situation of this range. On the 4-hour chart, short-term resistance levels are around 10.55/10.63, as well as the 1-hour MA120 moving average at 10.57.
From the daily chart of Ethereum, the price has formed consecutive doji candles over the weekend, operating below the MA5/10 moving averages. The daily support level to watch is the MA30 moving average at around 2440, while the resistance level can be referenced at the MA5/10 moving averages. On the 4-hour chart, there is a dense resistance area above at the price range of 2560-2580. If the price cannot stabilize above this range, the short-term will remain in a weak adjustment.
Midday Trading Strategy (Written at: 13:00):
BTC: Buy at 10.45, add to long at 10.36 on pullback, target 10.55/10.6; short at 10.6/10.65 aiming for 10.4.
ETH: Short at 2510, add to short at 2550 on rebound, target 2450; buy at 2450/2400 aiming for a 5-100 point rebound.
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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