Analyst Chen Shu: 12.29 Bitcoin and Ethereum Strongly Break Through, Focus on Whether Bulls Continue

Yesterday's article analysis provided a long strategy at 8.72/2910, and a slightly worse entry point could still yield profits. From the daily chart, Bitcoin has currently broken through the key resistance level MA30 at 8.9 mentioned in previous articles. If it can hold above this level during the day, there is a possibility for a continued short-term upward trend. On the 4-hour chart, a large bullish candle has directly crossed above the MA256. If it retraces to this level at 8.9 and holds, there is potential for a new round of rebound testing the high point at 9.3.

From the daily chart, Ethereum has also rebounded to the daily MA30 near 3030. Focus on whether it can break through and hold above this level during the day. On the 4-hour chart, the MA256 at 3000 has shifted from a resistance level to a support level. If this support holds, it will form a key reversal point, leading to a rebound testing higher resistance points.

Afternoon Trading Strategy (Written at: 15:00):

BTC: Long at 8.91, add to long on a retrace to 8.85, target 9.05/9.15; short at 9.3/9.4 looking for a 1-2000 point retrace.

ETH: Long at 3005, add to long on a retrace to 2960, target 3060/3120; short at 3110/3160 looking for a 6-100 point retrace.

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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