Analyst Chen Shu: Successful profit from short positions on September 20, focus on pullback support, midday analysis and strategy for Bitcoin and Ethereum

From the daily chart of Bitcoin, yesterday closed with a bearish candle, and the price retraced to the MA60 daily moving average around 11.5. The short-term support still focuses on the gains and losses around this level. On the 4-hour level, the short-term retracement support is at the MA256 daily moving average around 11.42. If it loses 11.5, the short-term target will be 111.42. Meanwhile, the MA256 daily moving average on the 1-hour level remains a short-term support level. The fluctuations on Saturday are not large, so it can be treated with a small range.

From the daily chart of Ethereum, the daily candle closed bearish, and the price retraced to the MA30 daily moving average around 4480. If this level is lost in the short term, it will continue to trend downwards. However, currently, the probability of a pullback seems greater, so it is recommended to focus on short positions. On the 4-hour level, the short-term has reached the key support at 4440. If this level is lost, the short-term will turn bearish again; conversely, if it holds, it will look for a consolidation adjustment.

Midday operational thoughts (written at 15:00):

BTC: Long at 11.54/11.5, target 11.57/11.62; short at 11.6/11.65 looking for around 11.55

ETH: Treat Saturday with a range of 4450/4430-4500

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.

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