Analyst Chen Shu: 12.11 Midnight Bitcoin and Ethereum Market Strategy * No. 2, Short Position Perfectly Profitable, Focus on 9.48 Support at Night

The analysis provided in the article on December 10th gave a short position strategy for Bitcoin at 9.8/9.9 and for Ethereum at 3800/3900. The market rebounded to a high of 9.82/3770 at night and successfully retreated to the target point of 9.6, making a profit of 2000 points on the short position. Currently, for the large short-term correction, please see the analysis below.

From the daily chart of Bitcoin, it can be seen that today it is once again forming a green K-line. Today's rebound has not successfully stood above the MA5/10 daily moving averages and has retreated to the MA30 daily moving average at the 9.48 level. The night market will focus on the gains and losses of this support level, and a rebound is expected, focusing on the strength of the rebound. From the 4-hour view, it has completely lost the support of the MA120 daily moving average, and the 1-hour level has also tested the effective situation of the MA256 daily moving average (9.8) pressure level. If it clearly loses 9.48, the short-term bullish trend may come to an end.

From the daily chart of Ethereum, after forming a large bearish line yesterday, today’s daily K has once again formed a green K-line, and there is a further retreat to the MA30 daily moving average at the 3470 support level. From the 4-hour view, the MA120 daily moving average mentioned in today’s article at the 3620 level has also fallen below. Attention should be paid to the rebound strength at the 3470 support level.

Midnight Operation Ideas (Written at: 01:00):

BTC: Light short near 9.6/9.7, target 9.45; light long near 9.46/9.35 with stop loss for over 1000 points rebound.

ETH: Light short near 3650/3740, target near 3550/3500; light long near 3470/3400, target 3550/3600.

Medium to Long-term Trend: For Bitcoin, first observe the final gains and losses at the daily MA30 moving average at the 9.48 level. If it is completely lost, the short-term bullish trend will be declared over; on the contrary, it will continue to oscillate and adjust. For Ethereum, the correction is quite large, but it is also necessary to first observe the gains and losses of the daily MA30 moving average.

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