Analyst Chen Shu: Price drop on 9.23, support at 11.2, midday analysis and strategy for Bitcoin and Ethereum

From the daily chart of Bitcoin, yesterday closed with a solid bearish candle, and the price retraced to the key support level of the MA120 moving average at 11.2. Pay attention to the situation if this level is lost; if it is lost, the short-term trend will turn bearish and continue to decline. For today, just focus on whether this level holds. If it holds, there may be a short-term rebound. The resistance level can be referenced at the 4-hour MA256 moving average at 11.4. The larger trend target is still treated as a bearish fluctuation, with the short-term rebound resistance level at 11.34.

From the daily chart of Ethereum, yesterday also closed with a bearish candle, and the price fell below the MA60 moving average support at 4260. The resistance level for today's rebound is this level. After previously breaking below the MA256 moving average on the 4-hour chart, it is currently maintaining a fluctuation below 4200. The short-term rebound high point resistance is at 4230, with support at 4060.

Midday trading strategy (writing time: 13:00):

BTC: Short at 11.33, add to short at 11.42 on rebound, target 11.2/11.15; look for a 1-2000 point rebound at the lower levels of 11.15/11.05.

ETH: Short at 4230, add to short at 4280 on rebound, target 4150/4080; look for a 6-100 point rebound near 4000.

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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