Analyst Chen Shu: 11.8 Midday Bitcoin and Ethereum Market Strategy No. 1, last night's long position successfully took profit, and the intraday pullback continues to buy
On November 7th, midnight analysis gave a long position at 7.57/2840, which rose to a target point of 7.65/2950, with a profit of 1000/100 points on the long position. Congratulations to friends who followed the operation. Currently, the short-term narrow fluctuations continue to maintain strength. Please see the following analysis for how to operate.
From the daily chart, Bitcoin closed with a candlestick with upper and lower shadows yesterday, and the price set a new historical record reaching a high of 7.68. The key is to focus on the trend after the US stock market opens tonight. During the day, the Asian and European markets mainly showed narrow fluctuations without directional selectivity. The focus is still on the impact of the US stock market opening tonight. In the short term, pay attention to the gains and losses of the 4-hour MA5/10 moving averages. If it continues to hold the 4-hour MA5/10 moving averages, the short-term may continue to rebound and break through. Conversely, if it loses support, watch for a consolidating trend. The short-term support is focused on the 7.55 line.
From the daily chart, Ethereum showed another green K yesterday, and the price tested the MA30 moving average (2960) on the weekly chart but failed to break through. The current daily resistance is focused on the MA256 moving average (3070), while the support level is focused on the 4-hour MA5/10 moving averages. As long as it does not lose this line, it will continue to maintain a strong bullish trend.
Midday operating thoughts (writing time: 14:30):
BTC: Light long position near 7.56, add to the long position near 7.5 on pullback, target at 7.65/7.7 above to reduce position and hold
ETH: Light long position near 2890, add to the long position at 2860 on pullback, target at 2950/3000 above to reduce position and hold
Note: The Asian and European markets during the day are expected to have no significant fluctuations and will not choose a direction. Pay attention to whether the 4-hour level MA5/10 moving averages are lost. The focus is on the direction choice of the US stock market after it opens tonight.
Daily analysis strategy has a high win rate! Analysis is not easy, I hope everyone can give a free follow, collect, like, and comment. Thank you all, and welcome everyone to leave comments below. I will reply one by one!
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