Analyst Chen Shu: Short-term pullback on September 19, focus on support at 11.6, midday analysis and strategy for Bitcoin and Ethereum

From the daily chart of Bitcoin, the expected 25 basis point rate cut has not brought significant gains to the market. The short-term rebound is basically coming to an end, with the lower support focusing on the 4-hour MA30 moving average at 11.6. The first support to watch during the pullback is this position. In the short term, pay attention to the situation of the daily MA5/10 moving averages being breached, with resistance at 11.85.

From the daily chart of Ethereum, the daily trend is flattening, and the range of fluctuations is narrowing, currently maintaining above the MA30 moving average at 4470. The short-term rebound strength is weak, and it is expected to continue testing the 4-hour MA256 moving average at 4430. It is advisable to maintain a short position during the rebound.

Midday trading thoughts (written at 13:40):

BTC: Short at 11.7, add to short at 11.8 on rebound, target 11.6/11.5; look for a 1-2000 point rebound on the downside at 11.5/11.4.

ETH: Short at current price 4535, add to short at 4570 on rebound, target 4480/4430; look for a 6-100 point rebound on the downside at 4430/4360.

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

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