Analyst Chen Shu: 12.28 Bitcoin and Ethereum Sideways Consolidation Ends, Where is the Direction? Weekly Review Analysis

From the daily chart, Bitcoin's overall price remains below the MA30 moving average. The key resistance level for the short-term trend is still focused on breaking through the 8.9 line. A breakthrough would shift the short-term trend towards a bullish market, further testing the 9.5 line. On the weekly level, it is maintaining a sideways adjustment at the MA5 moving average, with the same resistance level at 8.9. In the short-term 4-hour level, the price is under pressure from the continuously declining MA256 moving average, and the support level for further downward testing remains at 8.5.

From the weekly chart, Ethereum is currently operating above the MA120 moving average at 2910. In the short term, there is still a probability of piercing this support level. The daily resistance level is at the 3020 line MA30 moving average. At the 1-hour level, the current price is adjusting around the MA256 moving average at 2950, and it is expected to continue maintaining a sideways pattern.

Afternoon Operation Strategy (Written at: 13:00):

BTC: Do not overly focus on bullish or bearish, short at 8.9/9.05 looking for 8.75/8.65; for the downside, long at 8.72/8.65 looking for 8.9/9.05.

ETH: Short at 2990/3050 looking for 2950/2900; for the downside, long at 2910/2860 looking for around 3000.

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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