Analyst Chen Shu: Breaking New Highs on October 7, Focus on 4-Hour MA5/10 Daily Moving Averages, Bitcoin and Ethereum Trend Analysis

In yesterday's midnight article, the strategy suggested shorting at the 12.6 level. The market rebounded to this level before starting to pull back, allowing for a potential gain of 2000 points if the short position was followed. From the daily chart of Bitcoin, it can be seen that the daily line broke a new high again yesterday, but the upward momentum is slightly weaker. Overall, it seems that the bullish strength has reached a pause. The key focus should be on the 4-hour MA5/10 daily moving averages. If these are lost, we will first look for a short-term pullback correction; conversely, if they hold, we will continue to look for a fluctuating upward trend.

From the daily chart of Ethereum, it can be seen that the bulls once again increased their volume, pushing the price to the 4700 level high. The resistance levels to watch remain at the previous highs of 4730/4830. On the 1/4-hour level, the short-term bullish trend still holds, and it is expected to continue the bullish momentum upward. On the 4-hour level, pay attention to the support of the MA5 daily moving average and watch for a breakthrough of the 4730/4750 high.

Afternoon Trading Strategy (Written at: 13:30):

BTC: Long at 12.38/12.3, target 12.45/12.55; consider shorting above 12.6 for short-term operations.

ETH: Long at 4650/4550, target 4600/4650; look for a short at 4800/4850 for a 6-100 point pullback.

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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