Analyst Chen Shu: Midnight strategy for Bitcoin and Ethereum on 11.22 *Plan No. 2, the long strategy perfectly profits, continue to go long and bullish!
The mid-day analysis on November 21 provided long position strategies, suggesting a long position for Bitcoin at 9.55 and for Ethereum at 3050. After Bitcoin broke its recent high, it pulled back to the 9.56 level, while Ethereum pulled back to 3090, not reaching the entry point. The long position strategy is correct. Please refer to the following analysis for how to operate amidst the strong bullish momentum.
From the daily chart perspective, Bitcoin has returned to a strong upward trend, with four consecutive bullish daily candles. The recent bullish trend started along the 4-hour MA5/10 moving averages, steadily moving upward. Although there hasn't been a strong breakout candlestick, the overall trend remains a strong upward movement testing the $100,000 level. Continue to maintain a bullish stance in trading, using the 4-hour MA5/10 moving averages as entry points for long positions.
From the daily chart perspective, Ethereum's price trend aligns with the analysis from yesterday's article. After retesting the daily MA256 moving average, it has surged by over 10%, exceeding 300 points, and will test the previous high at 3450 again. In the 4-hour chart, today's strong breakout during the European and American sessions has broken through the recent consolidation range, leading to a recovery. For short-term trading, treat pullbacks as buying opportunities.
Midnight operation ideas (writing time: 02:00):
BTC: Lightly long around 9.7, add more on a pullback to 9.6, target above 9.8;
ETH: Lightly long around 3330, add more on a pullback to 3280, targets 3450/3500.
Note: The short-term bullish trend for Bitcoin is very clear, and it is about to test the $100,000 round number, with a high possibility of breaking through. It is not advisable to predict a short-term top to short during such an upward trend; instead, look to buy on pullbacks.
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