Analyst Chen Shu: 11.24 Midday Bitcoin and Ethereum market strategy * No.1, narrow fluctuations over the weekend focusing on evening market direction selection.
The midday analysis on November 23 provided a long strategy idea, Bitcoin gave a long order at 9.85/9.75, Ethereum gave a long strategy at 3330/3300, with small fluctuations in the weekend market, Ethereum welcomes a supplementary rise. Please refer to the following analysis on how to operate under the current narrow fluctuations.
From the daily chart perspective of Bitcoin, yesterday Saturday closed with a small bearish line, pulling back to touch the daily MA5, with intra-day narrow fluctuations around the 9.8 level, paying attention to the gains and losses of the daily MA5; looking at the 4-hour chart, today’s price pulled back briefly breaking below the MA5/10 daily moving averages at 9.8-9.83 price range and then regained, the bullish trend still exists, suggesting to continue going long on pullbacks, focusing on the support at the 4-hour MA30-day moving average at around 9.67, if it pulls back to this line, one can boldly go long once.
From the daily chart perspective of Ethereum, yesterday's supplementary rise closed with a long upper shadow red K-line, and the price has always maintained above the daily MA5, testing and breaking above the previous rebound high point of 3400 before slightly pulling back; looking at the 4-hour chart, the overall market maintains operation above the MA5/10 daily moving averages, although there has not been a unilateral rise, the weekend's supplementary rise tests the high point of 3500, and as long as the pullback does not break 3400, the rise will continue.
Midday operation thoughts (writing time: 16:30):
BTC: Light long near 9.75, add long on pullback to 9.68, target around 9.85;
ETH: Light long near 3405, add long on pullback to 3370, target 3450/3500;
Note: Bitcoin has basically no fluctuations over the weekend, but it is still a bullish market, waiting for pullback opportunities to go long; Ethereum, on the other hand, welcomes a supplementary rise over the weekend, pay attention to the market fluctuations on Sunday night, and try to treat it with a bullish perspective.
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