Analyst Chen Shu: If it stabilizes at 11.06 on September 3, then go long and look for a rebound. Midday analysis and strategy for Bitcoin and Ethereum market trends.

CN
1 day ago

Analyst Chen Shu: If it stabilizes above 11.06 on September 3, then go long and look for a rebound. Midday analysis and strategy for Bitcoin and Ethereum.

From the daily chart, Bitcoin has closed with two consecutive green candles and is currently above the MA120 moving average at 11.06. The key focus today is whether it can maintain stability above this line. If it does, we can expect a rebound to the high points of 11.25/11.35. On the hourly chart, it is oscillating around the MA256 moving average at 11.07. If it holds above this line, the rebound will continue; conversely, if it falls below, it will likely continue to test lower support levels.

From the daily chart, Ethereum is showing weaker performance compared to Bitcoin, mainly oscillating around the 4300 level yesterday. The key focus today is whether the price can test upwards and break through the 4350-4400 price range. If it breaks and stabilizes, it may strengthen in the short term. The short-term trend is clearly weak, and it is recommended to consider entering long positions around the 4150 level at the 4-hour MA256 moving average for a more secure approach, while maintaining a bearish outlook for now.

Midday trading strategy (written at 16:30):

BTC: Long at 11.07, add to long on a pullback to 10.95, target 11.25/11.33; around 11.3, consider a short for a 1-2000 point pullback.

ETH: Short at 4360, add to short on a rebound to 4430, target 4270/4150; look for a long at 4150 for a 100-150 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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