Analyst Chen Shu: 8.31 Long Position Strategy Correctly Focused on 110,000 Breakthrough, Bitcoin and Ethereum Market Analysis

From the daily chart of Bitcoin, the short-term price is currently near the MA20 moving average. Pay attention to whether the price can successfully break through and stabilize above this line at 11.02. If it cannot break through and stabilize above this line, it may retest the MA256 moving average low point at 10.06. On the 4-hour chart, after a short-term high of 10.95, it has once again pulled back to the current level around 10.85. The daily fluctuation is not large, so first focus on the breakout direction of the 10.95-10.85 range. A breakout from this range can be followed with a breakout position.

From the daily chart of Ethereum, yesterday closed with a small red doji star, stopping the decline at the daily MA30 moving average. The short-term resistance level to focus on is the breakthrough of the MA10 moving average at 4550. On the 4-hour level, the short-term price is near the short-term resistance level. Similarly, whether the MA256 moving average at 4515 can be broken through on the 1-hour level is also a key focus for the short term.

Afternoon Operation Thoughts (Written at: 14:30):

BTC: Long at 10.83, add to long at pullback to 10.75, target 10.95/11.05; short at 11.03/11.16, looking for a pullback of around 2000 points.

ETH: Long at 4415, add to long at pullback to 4360, target 4500/4550; short at 4520/4580, looking for a 100-point pullback.

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 for discussion; I will reply to each one.

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