Analyst Chen Shu: 5.5 Afternoon Bitcoin and Ethereum Market Analysis Strategy, Short-term Pullback Focus on Breakout Direction
From the daily chart, Bitcoin closed with a green bearish candle yesterday, with the price breaking below the daily MA5/10 moving averages. If it cannot regain this level in the short term, it will return to a weak consolidation phase. The daily support to watch is the MA120 moving average at 9.15. On the 4-hour chart, it has currently broken below the MA60 moving average and the MA256 moving average on the 1-hour chart, so we need to pay attention to whether it can regain the 9.5/9.58 level.
From the daily chart of Ethereum, the price is oscillating around the MA60 moving average, with the daily range flattening. We need to watch if the price can regain the 1815-1830 price range, while also monitoring whether the MA30 moving average on the 1/4 hour chart can be reclaimed.
Afternoon Trading Strategy (Written at: 14:00):
BTC: Buy at 9.4, add to long at 9.35 on pullback, target 9.5/9.55; short at 9.55/9.6 looking for 9.45/9.35
ETH: Buy at 1800, add to long at 1775 on pullback, target 1820/1840; short at 1830/1850 looking for 1810/1790
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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