Analyst Chen Shu: On December 4, Bitcoin and Ethereum market reversed and continued to rise, pay attention to the support at 3170 during the pullback.

From the daily chart of Bitcoin, the price has risen for two consecutive days and is currently stable above the MA5/10-day moving averages. The upper resistance level to watch is the breakthrough and stability of the MA30-day moving average at 9.4. On the hourly level, the short-term price is steadily moving upwards along the MA30-day moving average at 9.3. The short-term support to focus on is the loss of the MA30-day moving average on the hourly level. If it breaks through the daily MA30-day moving average at 9.4, it may continue the upward rebound.

From the daily chart of Ethereum, there have been two consecutive large bullish candles, and the price has rebounded to the daily MA256-day moving average. The current price is fluctuating around 3170. Pay attention to whether there is support during the subsequent pullback to 3170. If there is support, the short-term will establish 3170 as an effective support level, turning from resistance to support, which will initiate a new round of upward movement. The resistance level to watch is the 4-hour MA256-day moving average at 3360.

Midday trading strategy (written at 13:10):

BTC: Buy at 9.2, add more on a pullback to 9.1, target 9.35/9.45; sell at 9.45/9.55 looking for 1-3000 points.

ETH: Buy at 3160, add more on a pullback to 3100, target 3250/3300; sell at 3300/3360 looking for 6-100 points.

The daily analysis strategy has a very high win rate! Analysis is not easy, I hope everyone can give a free follow, bookmark, like, and comment. Thank you all, and feel free to leave comments below; I will reply to each one.

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