Analyst Chen Shu: December 1 Bitcoin and Ethereum market rebound faces pressure and falls back, pay attention to signs of a bottom.

From the daily chart of Bitcoin, today it has once again closed with a large bearish candle, with the price directly breaking below the MA5/10 day moving averages. The support level to watch below is the 8.45 line; if it fails to hold, it may short-term decline again to test the $80,000 mark. On the 4-hour level, it has broken below all moving average supports. The support below can focus on the previous low of 8.4 from the earlier consolidation, while the resistance level to watch is the MA5 day moving average at 8.7. In the short term, it should be treated with weak fluctuations, but do not be overly bearish.

From the daily chart of Ethereum, today it has also closed with a large bearish candle, with the price breaking below the MA5/10 day moving averages. The previous MA256 day moving average is a key resistance level for the short term. The short-term support level to watch is the previous low of 2750 from earlier consolidation, while the pressure level for a short-term rebound is the previous high of 2850 on the 1-hour level. It should be treated with weakness until it stabilizes above the MA5 day moving average on the 4-hour level.

Midday trading strategy (writing time: 21:20):

BTC: Short at 8.68, add short at 8.86 on rebound, target 8.55/8.45; look for a long at 8.4/8.3 for a 1-3000 point rebound.

ETH: Short at 2850, add short at 2920, target 2800/2750; try a short-term long at 2750/2700 below.

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 a message below for discussion; I will reply one by one.

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