Analyst Chen Shu: The downtrend of Bitcoin and Ethereum continues on November 21, breaking through key levels, short-term focus on the strength of the rebound.

From the daily chart of Bitcoin, yesterday closed with a large bearish candle, directly breaking below the previous low support. In the short term, it still cannot break and stabilize above the MA5 moving average. On the 4-hour level, the short-term rebound has consistently failed to break through and stabilize above the MA30 moving average. This line can be treated as a resistance level for the rebound. Currently, the short-term has temporarily stopped falling at the 8.5 level, with short positions to consider at rebound points of 8.9/9.2 highs, and the support level is expected to further adjust below 8.5.

From the daily chart of Ethereum, it has basically confirmed the loss of the MA256 moving average, and the short-term will enter the next phase of the downtrend. On the weekly level, it has currently broken below the MA120 moving average at the 2850 level, with the next support at the MA256 moving average at the 2530 level. The 4-hour level is also continuously under pressure from the MA30 moving average, and the rebound should focus on whether it can break through and stabilize above this line; if it does not stabilize, the weakness will continue.

Midday trading strategy (written at 13:40):

BTC: Short at 8.8, add short positions on the rebound at 8.9/9.1, target at 8.7/8.5; consider long positions at 8.35/8.25.

ETH: Short at 2860, add short positions on the rebound at 2930/3000, target at 2800/2700; consider long positions at 2700/2600.

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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