Analyst Chen Shu: 10.6 High Position Consolidation Awaiting Correction Opportunity, Bitcoin and Ethereum Trend Analysis

From the daily chart of Bitcoin, it has continuously risen with red candlesticks, breaking through historical highs, but it is evident that the upward momentum has slowed. There is a significant amount of waiting orders and selling pressure around the 12.45 level. The key focus for the day is the daily MA5 moving average at 12.25. For the 4-hour level, the support level to watch is the MA5/10 moving averages at 12.32. Be cautious about shorting until it breaks below this level, and wait for shorting opportunities to appear. As for the bullish target pressure level above, it is currently difficult to predict, but you can pay attention to the 12.8/15 level.

From the daily chart of Ethereum, the daily volatility has decreased, and it still has not broken through the high point of 4600. The support below is at the MA5 moving average of 4500, as well as the MA30/60 moving averages at 4400/4370. On the 4-hour level, it is maintaining a range-bound fluctuation, so first focus on the breakout direction of the range 4600-4430. Until it breaks below the 1/4 hour moving averages, do not be overly bearish.

Midday Trading Strategy (Written at: 14:00):

BTC: Long at 12.3/12.15, target 12.4/12.55; consider shorting at 12.5/12.6 for short-term operations.

ETH: Long at 4500/4430, target 4600/4650; for shorts above at 4650/4730, look for a 6-100 point pullback.

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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