Analyst Chen Shu: The bearish trend of the weekly death cross on September 1 has not stopped, midday analysis and strategy for Bitcoin and Ethereum

From the daily chart of Bitcoin, the price rebounded to the MA5 moving average yesterday and then fell again, with the short-term rebound high remaining at the 10.92 level. Given the current MACD death cross at the weekly level, further downside space is expected. The short-term support to watch is at the 10.5 level. Looking at the 4-hour chart, there have been consecutive green closes in the short term, with key support below at the 10.73 level. If the 1-hour level breaks below this line with an entity candlestick, the rebound trend will end again, and one can continue to short. The intraday resistance to watch for a pullback is the high point of yesterday's rebound.

From the daily chart of Ethereum, there was a slight oscillation and rebound over the weekend, testing the 4500 high point without success. The key support to watch today is the MA30 moving average at the 4300 level. If it completely loses the 4300 level, it will significantly decline in the short term. The resistance level to watch is the high point of the weekend rebound at the 4490 level. First, focus on the breakout direction of the range between 4500-4300. It is more prudent to wait for a complete breakout before shorting in the short term.

Midday operation strategy (writing time: 13:00):

BTC: Short at 10.82, add to short at rebound to 10.92, target 10.7/10.6; buy at 10.62/10.55 for a rebound of around 2000 points.

ETH: Short at 4460, add to short at rebound to 4530, target 4320/4280; buy at 4300/4250 for a rebound of around 100 points.

The daily analysis strategy has a very high win rate! Analysis is not easy, and 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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