Analyst Chen Shu: The downtrend was established on September 28, focus on the rebound high point at the 11.03 resistance level, analysis of Bitcoin and Ethereum trends.

From the daily chart of Bitcoin, the price remains below 110,000, continuing to show weak fluctuations. Currently, the support points for the downward pullback are at 10.7/10.6, while the resistance level to watch is the previous high point of 11.03. A breakthrough would indicate a continued rebound, while a failure to break through would suggest a continuation of the downtrend. As of now, there is no sign of an end to the pullback trend. When it first touches the 110,000 level, one can consider a small stop-loss to bet on a pullback, while waiting for a long position.

From the daily chart of Ethereum, it is currently fluctuating around the 4000 level. The support below to focus on is the MA120 moving average at 3580. On the 4-hour chart, as the MA30 moving average continues to decline, the current rebound is about to reach this level. The short-term resistance level is also at 4060, with a key focus on the breakthrough and stabilization at this level.

Afternoon trading strategy (written at 14:00):

BTC: Short at 110,000/11.03, add to short at 11.1 on rebound, target 10.95/10.85; for long positions, look for a 1-2000 point rebound at 10.7/10.6.

ETH: Short at 4060, add to short at 4120 on rebound, target 4000/3900; maintain long positions in sync with Bitcoin but expect a small range.

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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