Analyst Chen Shu: 2.20 Afternoon Bitcoin and Ethereum Market Strategy
- On February 19, the afternoon article provided Bitcoin and Ethereum long and short strategies. Bitcoin suggested short positions at 9.6/9.68 and long positions at 9.35/9.4, while Ethereum suggested short positions at 2750/2700. Yesterday, the market fluctuated upward, reaching a high of 9.7. Currently, for short-term fluctuations and operations, please see the analysis below.
From the daily chart of Bitcoin, yesterday's candlestick formed a small red candle, crossing above the MA5/10 daily moving averages and once again standing above the MA5/10 daily moving averages. The short-term resistance level is at the daily MA60/30 moving averages, which are at 9.84/9.93. Pay attention to whether the intraday rebound can continue to test this line. On the 4-hour chart, the price has broken through the MA30/60 daily moving averages mentioned in yesterday's article, and is currently approaching the MA120 daily moving average at the 9.75 resistance level. The 1-hour level has also broken through the MA256 daily moving average at 9.66, so watch for whether it can maintain this support level.
From the daily chart of Ethereum, it continues to oscillate around the daily MA5/10 moving averages. On the 4-hour chart, the price is nearing the MA120 daily moving average resistance level. Pay attention to whether it can break through the 2760 resistance level; if it breaks and holds, the rebound will continue. Also, watch the 1-hour level MA256 daily moving average support at 2680/2700.
Afternoon Operation Ideas (Written at 14:00):
BTC: Light short at 9.75, add to short at 9.83 on rebound, target 9.65/9.6; consider long positions at 9.4/9.5.
ETH: Light short at 2750, add to short at 2800, target 2650/2700; follow Bitcoin for short-term longs.
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