Analyst Chen Shu: 11.23 Midnight Bitcoin, Ethereum market strategy *No. 2, pullback confirmation support again bounces back, bullish remains.
On November 22, the midday analysis provided long position strategy ideas. Bitcoin provided a long position at 9.8, and Ethereum provided a long position strategy at 3350. Before the US market, a pullback occurred, with Bitcoin pulling back to the 9.7 level and Ethereum at 3260-3300. How to operate after the short-term pullback and subsequent rise, please refer to the following analysis.
From the daily chart of Bitcoin, today’s daily line currently forms a doji star, just a step away from the $100,000 mark. The upward momentum during the day is limited, and with the weekend approaching, the bullish trend is slightly easing but still maintains its bullish outlook; on the 4-hour chart, there are currently two consecutive green K-lines, but the overall trend remains above the MA5/10-day moving averages. Although the bullish momentum is temporarily slowing down, it does not affect the pullback buying strategy. Please pay attention to the support and loss of the MA10-day moving average on the 4-hour chart; if it fails, we will look at the oscillation back to the MA30-day moving average.
From the daily chart of Ethereum, after yesterday’s surge, today’s pullback market shows a small bearish candle. If there is another significant pullback, the upper pressure level of 3400 will form a short-term double-top structure; on the 4-hour level, it has continuously formed green K-lines, pulling back to the MA10-day moving average. If 3300 fails, it will return to the oscillation range around 3150.
Midnight operational ideas (writing time: 00:00):
BTC: Light long positions near 9.81, increase long positions on pullback to 9.65, target around 9.9;
ETH: Light long positions near 3200, increase long positions on pullback to 3160, target 3250/3300.
Note: As the weekend approaches, trading volume decreases and volatility also diminishes. Although the US market tonight did not continue to break upward, the overall trend still maintains a bullish outlook. The short-term support should focus on the loss and gain of the MA5/10-day moving averages on the 4-hour chart; Ethereum should first look for a weak pullback market.
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