Analyst Chen Shu: How to judge the fluctuating trend of the price weakening again at 9.6, midday analysis of Bitcoin and Ethereum market strategies

From the daily chart of Bitcoin, the market has been severely washed out in recent days, with the overall market oscillating around the 110,000 mark. The daily focus is on the MA120 moving average line at 118,000. Currently, the trend is weak, and it is expected to test the support at 108,000-107,000 again in the future. On the hourly level, pay attention to the support and loss of the MA256 moving average line at 110,400, which can be viewed as a dividing line for long and short positions. It is expected to oscillate around this line, with the key short-term resistance level to watch at 111,700.

From the daily chart of Ethereum, yesterday's long upper shadow inverted hammer pattern caused the price to break below the MA30 moving average line. The trend is clearly bearish, with the resistance level focusing on the daily MA30 moving average line at 4,420. The short-term resistance level to watch is the rebound high at 4,340, and the target for the pullback is the MA256 moving average line at 4,200. If it loses 4,200, it will likely retest 4,060 in the short term.

Midday operation strategy (writing time: 15:20):

BTC: With little fluctuation on Saturday, treat it as a range of 110,400-111,200 for high selling and low buying, and provide a fluctuation strategy tomorrow.

ETH: High selling and low buying in the range of 4,270-4,330.

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