Analyst Chen Shu: How to view the high-temperature consolidation on 8.24 next week? Midday analysis and strategy for Bitcoin and Ethereum market

From the daily chart of Bitcoin, the two days over the weekend have currently formed small bearish candles, retracing to the current daily MA60 moving average line at 11.5. Pay attention to the situation if this line is lost; if it is lost, the short-term will continue to retrace and test the previous low support. On the 4-hour chart, the short-term resistance level remains as mentioned in yesterday's analysis at the 11.72 line. The short-term has shown a continuous slight retracement, with support below focusing on the MA30 moving average line at 11.42. For today, first pay attention to the gains and losses at these two positions.

From the daily chart of Ethereum, after a short-term surge, it is currently maintaining a high consolidation above 4700. The short-term needs to pay attention to the loss of the price range of 4750-4700. If it continues to oscillate above this price range, it may break upward again. On the 4-hour level, it is still operating above the MA5/10 moving averages, while on the 1-hour level, it is also above the MA30 moving average. Pay attention to the situation if this position is lost.

Midday operation strategy (writing time: 15:30):

BTC: Short at 11.52, add to short on rebound at 11.62, target 11.42/11.35; below 11.26, a small stop loss to try going long for a 1-2000 point rebound.

ETH: Short at 4770, add to short on rebound at 4820, target 4650/4560; below 4650/4560, look for a 100 point rebound.

The daily analysis strategy has a very high win rate! Analysis is not easy, I hope everyone can give a free follow, bookmark, like, and comment. Thank you all, and feel free to leave comments below; I will reply to each one.

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