Analyst Chen Shu: 11.30 Bitcoin and Ethereum sideways oscillation market focus on the breakout direction of the horizontal range

From the daily chart of Bitcoin, it has maintained a narrow range of oscillation for several consecutive trading days. Although the price remains above $90,000, there has not been a strong upward breakout. The short-term sideways oscillation range is maintained between $91,000 and $90,000. Attention should be paid to the breakout direction of this range; an upward breakout may test the $93,000-$94,000 level, while a downward break below $90,000 could potentially retest the $88,000 support level.

From the daily chart of Ethereum, it is clear that it is being suppressed by the MA256 daily moving average at the $3,150 level. Currently, $3,150 has become a key dividing line for bulls and bears in the short term. A breakout above this level would continue to look for a rebound, while a failure could lead to a return to a weak correction trend. The short-term support level to watch is the MA256 daily moving average at the $2,900 level.

Midday trading strategy (writing time: 14:00):

BTC: Above $90,000, add long positions on a pullback to $88,000, target $92,000/$93,000; above $93,000/$94,000, look for a short position with a 1,000-2,000 point pullback.

ETH: Above $2,960, add long positions on a pullback to $2,900, target $3,030/$3,080; above $3,100/$3,160, look for a short position with a 60-100 point pullback.

The daily analysis strategy has a very high win rate! Analysis is not easy, and 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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