Analyst Chen Shu: Attention to Key Support Breakout After Low-Level Consolidation on August 17, Midday Bitcoin and Ethereum Market Analysis Strategy

From the daily chart, Bitcoin's current price has dropped to the key level of 11.73 at the MA30 moving average. If this level is lost, it will likely retest the low point of 11.4. The short-term resistance level to watch is whether it can hold above the MA5/10 moving averages, specifically above 11.9. On the 4-hour chart, the support level to focus on is the MA256 moving average at 11.65, while on the 1-hour level, it is expected to oscillate around the MA256 moving average at 11.83.

From the daily chart, Ethereum's current price is oscillating between the MA5/10 moving averages. Attention should be paid to the breakout direction of this small range between 4520-4400. On the 1-hour level, the support to watch is the MA256 moving average at 4300, while the resistance level is the MA120 moving average at 4550. The market's next breakout direction is anticipated to continue testing the support level downwards.

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

BTC: Short at 11.88, add to short at 11.98 on rebound, target 11.8/11.7; look for a rebound of around 2000 points at the lower levels of 11.7/11.62.

ETH: Short at 4530, add to short at 4580 on rebound, target 4450/4400; look for 4400 at the lower levels of 4330/4280.

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.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。