Analyst Chen Shu: 5.8 Afternoon Bitcoin and Ethereum Market Analysis Strategy, Prices Rising Close to 100,000, Remain Optimistic

From the daily chart, Bitcoin formed a red doji yesterday, but this morning it rapidly surged above 99,000. Currently, the short-term resistance level on the daily chart is around 99,500. After a likely pullback, it is expected to test the 100,000 USD mark. The 1/4 hour level shows a strong bullish trend, so watch for a potential breakthrough at the 99,500/100,000 USD levels.

From the daily chart, Ethereum is currently forming a bullish candle, with prices breaking above the previous consolidation moving average range of 1,830. The short-term support to watch today is 1,830. Given the significant short-term rise, it is not advisable to rush into long positions; the resistance level to reference is 2,000 USD.

Afternoon Trading Strategy (Written at: 13:00):

BTC: Long at 9.86, add to long at 9.76 on pullback, target 99.5/100,000; short near 100,000 looking for a pullback of 1,500-3,000 points.

ETH: Long at 1,885, add to long at 1,860 on pullback, target 1,720/1,750; short positions should follow Bitcoin.

The 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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