Analyst Chen Shu: On October 26, the bulls broke through, focusing on the effective support at 11.45. Analysis of Bitcoin and Ethereum trends.
From the daily chart of Bitcoin, the daily line has continuously closed in the green, with prices breaking through the daily MA30/120 moving averages. The short-term trend has once again shifted to a bullish trend. The key focus for the day is the support level at 11.45; if it holds, the short-term bullish momentum may extend upwards towards the high points of 11.7/11.8. Conversely, if this level is lost, it may lead to a pullback and enter an adjustment phase. From the 4-hour level, after breaking through the MA256 moving average at 11.42, we should look for a pullback opportunity and monitor the effectiveness of the support.
From the daily chart of Ethereum, yesterday's daily line closed strongly in the green, breaking through the MA30 moving average. It is currently approaching the MA60 moving average at the pressure level of 4250. We should pay attention to the breakthrough and stabilization at 4250. From the 4-hour level, the current price is also nearing the MA256 moving average at the pressure level of 4200, and we should monitor the breakthrough and stabilization at this level, which can be viewed as a short-term dividing line for bullish and bearish positions.
Afternoon trading strategy (written at 15:40):
BTC: Buy at 11.5, add to long positions on a pullback to 11.4, target 11.65/11.75; short at 11.8 looking for a 2000-point pullback.
ETH: Buy at 4150, add to long positions on a pullback to 4080, target 4250/4350; current price 4200-4250 can consider light short positions looking for a short-term pullback.
The daily analysis strategy has a very high win rate! Analysis is not easy, and 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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