Analyst Chen Shu: 5.29 Afternoon Bitcoin and Ethereum Market Analysis Strategy, Attention on Ethereum's Ability to Stabilize Above 2660 After a Price Surge
From the daily chart, Bitcoin closed with a green K-line yesterday, breaking below the MA5/10 day moving average support. Currently, the short-term resistance level to watch is the 10.85 line. From the 1-hour chart, the upper MA256 day moving average at 10.8 also serves as a short-term resistance level. The first support level to watch during a pullback is the 4-hour MA120 day moving average at 10.6. Short-term trading should focus on the breakout situations at these levels.
From the daily chart of Ethereum, today's price has directly surged and broken through the key resistance level of the daily MA256 day moving average at 2660. It is crucial to monitor whether the price can maintain above 2660 throughout the day. If it holds, the bullish trend will continue; otherwise, it may pull back below this level, with support levels at 2600/2550 on the 4-hour chart.
Afternoon Trading Strategy (Written at: 13:30):
BTC: Short at 10.8, add to short on a rebound at 10.86, target 10.7/10.6; go long at the 10.6 line looking for a 2000-point rebound.
ETH: Short at 2740, add to short on a rebound at 2780, target 2700/2660; go long at 2660/2600, target looking for 5-80 points.
The daily analysis strategy has a very high win rate! Analysis is not easy, and 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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