Analyst Chen Shu: 8.5 Long Position Take Profit, Focus on Pullback to 11.36 During the Day, Midday Bitcoin and Ethereum Market Analysis Strategy

From the daily chart of Bitcoin, yesterday it once again closed with a small bullish candle, and the price is about to touch the MA30 daily moving average at 11.65 but failed to do so. On the 4-hour chart, the last candle closed as a large bearish candle, creating a reversal, and the price has also fallen below the MA5/10 daily moving averages. The focus below is on the MA256 daily moving average at 11.36. If it confirms support on a pullback, it will continue to oscillate upwards. If it loses the 11.36 level, it will again fall into a weak downward trend in the short term. Pay close attention to the situation around this level.

From the daily chart of Ethereum, yesterday it closed with a large bullish candle, and the current price has crossed back to the daily MA10 moving average. The short-term support below is at 3550. On the 4-hour chart, it has also temporarily broken the MA60 moving average and is starting to reverse downwards. First, focus on the gains and losses around 3650. If it loses this level, look down to the support at 3780/3550. The trading suggestion for the day is to first short and then long, with specific attention needed on the changes at the US stock market opening.

Midday Trading Thoughts (Written at: 15:00):

BTC: Short at 11.43, add to short on a rebound at 11.46, target 11.35/11.3, consider long positions at 11.3/11.2.

ETH: Short at 3650, add to short on a rebound at 3675, target 3600/3560, long positions in sync with Bitcoin.

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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