Analyst Chen Shu: The weekly outlook for Bitcoin and Ethereum is bearish as of 3.9, continue to short on rebounds.

From the daily chart, Bitcoin has continuously fallen for several days, breaking below the MA30 daily moving average support. On the weekly chart, last week closed with a long upper shadow indicating bearish sentiment; major support is at the MA256 daily moving average around 5.58. On the 4-hour chart, the resistance levels to watch are the MA120 daily moving average at around 6.75 and the MA60 daily moving average at around 6.8. On the hourly chart, after rebounding from the MA256 daily moving average at 6.8 yesterday, it again fell lower. For short-term rebounds, focus on the breakout situation at 6.8; if it touches this level again, consider rebounding to short.

From the daily chart, Ethereum’s price fell below the MA30 daily moving average at 2000 yesterday, with short-term rebounds nearing this level again. Watch for the breakout situation at the resistance level of 2000. The weekly chart also shows a bearish trend. On the 4-hour chart, focus on the resistance area between 1970-2030; if it rebounds to this area, it can still be considered for bearish shorts.

Afternoon operational thoughts (writing time: 12:20):

BTC: Short at 6.8, add to shorts at rebound to 6.95, target 6.65/6.55; look for long positions at 6.5/6.4 with a 2000-point rebound.

ETH: Short at 2000, add to shorts at rebound to 2050, target 1920/1860; look for long positions at 1900/1850 with a 100-point rebound.

The daily analysis strategy has a very high win rate! Analysis is not easy, so I hope everyone can give a free follow, collect, like, and comment. Thank you all, and feel free to leave messages for discussion below; I will respond one by one.

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