Analyst Chen Shu: 12.10 Midnight Bitcoin and Ethereum Market Strategy * No. 2, Short-term Revisit Focus on 9.8 Support
The analysis provided in the article on 12.9 gave Bitcoin 9.78/9.7 long position strategy and Ethereum 3900/3840 long position. The evening market dropped to a low of 9.8/3840 before rebounding to 10.4/3950, making the long position strategy effective with a profit of 2400/100 points for those who followed. Congratulations to those who participated in the operation. For how to operate in the current short-term rapid pullback, please see the analysis below.
From the daily chart of Bitcoin, the price quickly fell in the evening and currently pierced the daily MA10 moving average (9.8) without stopping the decline. Focus on whether it can reclaim the 9.8 high point in the evening; looking at the 4-hour chart, the evening high hit 10.4, piercing the 4-hour MA30 moving average but failed to stabilize above this level. The current price is about to revisit the MA120 moving average (9.7), paying attention to the support and loss of the 9.7 line. The short-term support points are 9.78/9.7. If these are completely lost, there is a possibility of further revisiting the daily MA30 moving average (9.45); otherwise, we will see the strength of the rebound.
From the daily chart of Ethereum, the overall trend is consistent with the midday analysis. The price revisited the daily MA10 moving average at 3820 and is currently temporarily holding this support. Attention should be paid to whether this support remains effective in the future, with a rebound upwards relying on this support. Short-term support focuses on the 4-hour MA60 moving average (3805) and the 1-hour MA256 moving average (3780).
Midnight Operation Ideas (Written at: 01:00):
BTC: Light long near 9.78/9.7 million, target above 9.9; above 10 million, consider light short at an opportune moment, target 9.9
ETH: Light long near 3820/3780, target around 3900, short positions follow Bitcoin synchronously, focusing on going long on pullbacks.
Medium to Long-term Trend: Bitcoin has currently revisited the MA10 moving average during the day, paying attention to whether the price will further pull back and completely lose this line. The current trend is still bullish before it is completely lost; Ethereum also short-term revisited the daily MA10 moving average, focusing on whether it can rely on this line to welcome a rebound opportunity. The trend is currently still bullish.
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