Analyst Chen Shu: 8.19 Yesterday's short position profit focuses on the 11.4 support level, midday Bitcoin and Ethereum market analysis strategy

From the daily chart of Bitcoin, the daily line continues to close with a bearish candle, dropping to the current MA60 daily moving average at 11.42. Attention is on whether this level can be held. This level is also the MA10 weekly moving average at 11.4. On the 4-hour chart, there is clearly strong resistance at the MA256 daily moving average at 11.7. If it cannot stabilize above this level, it will continue to maintain a weak oscillating trend, with a focus on the breakout direction of the 11.4-11.7 range.

From the daily chart of Ethereum, the daily line has continuously closed with bearish candles, breaking below the MA5/10 daily moving averages. The short-term support focuses on the MA30 daily moving average at 3970. If it breaks below the 4170 level, it will continue to retrace and test the 4000 level. On the 4-hour chart, the short-term support focuses on the MA120 daily moving average at 4050. In terms of operation, it is recommended to continue to short on rebounds.

Midday operation thoughts (writing time: 15:00):

BTC: Short at 11.56, add to short on rebound at 11.65, target 11.4/11.35; look for a rebound of about 2000 points around 11.4/11.3.

ETH: Short at 4270, add to short on rebound at 4350, target 4200/4170, reduce position if it breaks below and hold to look at 4050; maintain long positions in sync with Bitcoin.

The daily analysis strategy has a very high win rate! Analysis is not easy, I hope everyone can give a free follow, bookmark, like, and comment. Thank you all, and feel free to leave comments below; I will reply to each one.

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