Analyst Chen Shu: 11.22 Afternoon Bitcoin and Ethereum Market Strategy No. 1, Long Position Strategy Reaffirms Continue to Go Long, Targeting 100,000!
The afternoon analysis on November 21 provided a long position strategy, Bitcoin suggested a long at 9.55, Ethereum suggested a long at 3050, and at midnight again suggested longs at 9.7/3330, Ethereum perfectly entered the market reaching a high of 3430, profiting over 100 points, confirming the long position strategy is correct. Currently, it continues to maintain a strong test of 100,000; for operational details please see the analysis below.
From the daily chart, Bitcoin showed a strong bullish trend yesterday with a large bullish candle closing above 99,000, just a step away from the 100,000 psychological barrier; looking at the 4-hour chart, the overall price steadily challenges the 100,000 psychological barrier along the MA5/10 day moving averages. Once it breaks through 100,000, the market's psychological price may initiate an accelerated upward trend. For intraday operations, remain patient and wait for a small pullback to go long.
From the daily chart, Ethereum yesterday closed with a large bullish candle and increased volume, continuing today to test the previous high of 3450, with a high likelihood of breaking through. The next bullish target is 3550; currently, the 4-hour chart shows a strong consecutive bullish trend. Although there are divergences in the short-term between bulls and bears resulting in stagnation, the bullish trend remains evident. For operations, wait for a pullback to go long.
Afternoon operational thoughts (written at: 14:00):
BTC: Light long near 9.85, add long on pullback at 9.75, target above 100,000;
ETH: Light long near 3370, add long on pullback at 3330, target 3450/3500
Note: Testing and breaking through 100,000 is inevitable in the near future. Abandon the short position mindset and wait for a clear topping pullback opportunity above before considering a short position. For pullbacks, focus on entering at the MA5/10 day moving averages on the 1/4 hour chart.
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