Analyst Chen Shu: Midday Bitcoin and Ethereum market strategy on 11.23 * No. 1, short-term stagnation waiting for pullback opportunities to go long.
Midday analysis on November 22 provided a long strategy for Bitcoin at 9.8 and Ethereum at 3350, the midnight strategy again provided long positions at 9.81/3200, how to operate in the current short-term stagnation please see the analysis below.
From the daily chart of Bitcoin, on Sunday, a small bullish candlestick doji star was formed, the daily candlestick has again deviated from the MA5/10-day moving averages, the bullish trend remains; looking at the 4-hour chart, the MA5/10-day moving averages have overlapped, and the candlestick has continuously formed green doji stars, showing a divergence trend. If it loses the 4-hour MA10-day moving average, it will continue to test the support of the 4-hour MA30-day moving average downwards, and it can be treated as a narrow fluctuation for the day.
From the daily chart of Ethereum, yesterday also formed a green doji star, the price failed to break above the previous high point of 3400, but still bullish on Ethereum; looking at the 4-hour chart, after a series of green candlesticks yesterday, it re-established above the MA5/10-day moving averages, returning to a strong trend, and still treating pullbacks as buying opportunities.
Midday operation strategy (writing time: 12:30):
BTC: Light long positions near 9.85, increase long positions on pullback to 9.75, target around 9.9;
ETH: Light long positions near 3330, increase long positions on pullback to 3300, target 3260/3300
Note: Although there is short-term stagnation, the bullish trend remains. Bitcoin is first treated with a narrow fluctuation on Saturday, while Ethereum can pay attention to whether there will be a rebound over the weekend.
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