Analyst Chen Shu: October 14th rebound faces resistance, focus on the 11.5 pressure level, Bitcoin and Ethereum trend analysis

From the daily chart of Bitcoin, yesterday's movement was basically as analyzed in the article. The price rebounded to around the MA30 daily moving average at 11.6 and then began to pull back, with clear resistance at this level. On the 4-hour chart, the price rebounded to the MA256 daily moving average at 11.5 and then started to face resistance and decline. In the short term, focus on the breakout situation of the MA120/256 daily moving average price range, which is between 11.5-11.65. Until this level is broken and stabilized, the trend will maintain a weak oscillation, with support at around 110,000.

From the daily chart of Ethereum, today the daily line once again closed with a bearish candle, with the price dropping to the MA5 daily moving average. The upper pressure level is at the MA30 daily moving average around 4300. On the 4-hour chart, the price rebounded to the MA120 daily moving average at 4250 and then began to pull back for adjustment. The lower support to watch is the previous low point of the oscillation at around 3750. Currently, on the 1-hour chart, it is forming a rounded top pattern. If it continues to pull back, the next low point to watch is around 3850.

Afternoon trading strategy (writing time: 15:00):

BTC: Above 110,000, pull back to 109,000, target 111,000/112,000; short at 113,500/114,500, watch 112,500/111,000.

ETH: Short at 4070, add to short at 4150, target 4000/3850; look for a 100-200 point rebound at 3850/3750.

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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