Analyst Chen Shu: 1.13 Bitcoin and Ethereum retrace to support, maintain focus on continued upward movement to test resistance levels.

CN
4 hours ago

Analyst Chen Shu: 1.13 Bitcoin and Ethereum pull back to support, focus on continuation of upward movement and testing resistance levels.

From the daily chart, Bitcoin closed with a small doji yesterday, maintaining a price oscillation around the MA5/10-day moving averages. Currently, it has returned to yesterday's high point, paying attention to the breakout and stabilization at the 9.25 level. If it stabilizes, it is expected to test the resistance at the 9.45/9.5 high point. The support level to watch is the MA256 daily moving average at 9.15 on the hourly chart, while on the 4-hour chart, the short-term upward movement focuses on the MA30 daily moving average at 9.1.

From the daily chart, Ethereum shows a narrowing oscillation range, with short-term support at the 3050-80 level. The key major support level to watch is the MA60 daily moving average at 3030. On the 4-hour chart, the resistance level is seen at the 3150-80 price range. If it breaks and stabilizes, it is expected to open up a bullish trend again. In the short term, it is anticipated to continue oscillating around the MA256 daily moving average at 3140.

Afternoon trading strategy (writing time: 17:40):

BTC: Buy at 9.18, add to long position on pullback to 9.1, target 9.3/9.4; above 9.38/9.45, look for a short position with a 1-2000 point pullback.

ETH: Buy at 3120, add to long position on pullback to 3080, target 3160-80; above 3180/3250, look for a short position with 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 a message below for discussion; I will reply to each one.

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