Analyst Chen Shu: 1.19 Bitcoin and Ethereum short positions made significant profits yesterday, looking at a support level of 90,000.

From the daily chart, Bitcoin has consecutively closed 5 green candlesticks, with the price breaking below the MA5/10-day moving averages. The short-term downtrend is not yet over, and it is expected that in the next two days, the price will again test the lower MA30/60-day moving averages at the 90.8/90,000 level. The resistance level to watch is the MA256-day moving average at 93,200 on the hourly chart. If it can return above this level and hold, the downtrend may temporarily pause. For now, without a significant rebound, it should be viewed with a bearish trend.

From the daily chart, Ethereum has also broken below the MA5/10-day moving averages in the short term, with support levels to watch at 3,100/3,060. From the weekly chart perspective, the support level is at the MA120-day moving average at 2,960. On the hourly chart, the price has currently dropped to the MA256-day moving average at 3,200, and it is expected to oscillate around this level for adjustment.

Afternoon

Operational thoughts (written at 11:10):

BTC: Short at 93.2, add to short on a rebound at 94, target 91.5/90,000; look for a 1-2,000 point rebound at 90.5/89.5.

ETH: Short at 3,220, add to short on a rebound at 3,260, target 3,170/3,100; look for a 6-100 point rebound at 3,100/3,060.

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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