Analyst Chen Shu: Short-term range fluctuations on September 2, focus on breakout, midnight market analysis / accompanying trading strategy

Market Analysis: Bitcoin's daily line is currently operating below the MA120 moving average. In the short term, pay attention to the breakout and stabilization around the 11.03 level. Until a successful breakout and stabilization occurs, it is advisable to treat the market with a bearish outlook. The overall fluctuation range to focus on is the breakout situation between 11.94-11.74. For Ethereum, the daily line is about to retrace to the MA30 moving average around 4300. In the short term, focus on the gains and losses around 4300, with resistance levels to watch at the 4490-4530 price range. The overall trend remains weak; if it breaks below 4300, it may drop to the 4100 level.

Trading Strategy (Published at: 00:40):

Approaching around 110,000 (no need to fixate on specific points), you can attempt to short once (this position is a short-term downtrend line). Below around 11.75, you can take a small stop loss to go long and look for a rebound, temporarily operating within this range. For Ethereum, consider trying to go long with a small stop loss in the 4320-4280 range, and attempt to short in the 4490-4550 range to look for a short-term pullback (no need to look too far for targets).

As shown in the chart, if the trend line is effectively broken, do not operate short positions for the time being. Conversely, if it approaches the trend line for the first time (around 110,000), you can attempt to short once. If it effectively breaks below the 11.73 level, you can also try to chase the short to look for around 11.55. The long position strategy is to look for an effective upward breakout of the downtrend line to go long in the direction of the trend, or if it retraces again and touches around 11.73 without breaking below 10, you can still take a small stop loss to go long, waiting for the trend to break. After the breakout, arrange a breakout strategy.

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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