Analyst Chen Shu: Bitcoin and Ethereum market strategy for 11.25 lunchtime *No. 1, narrow fluctuations have not shown a peak retracement, still can take long positions and be bullish.
In the afternoon analysis on November 24, a long position strategy was proposed: Bitcoin at 9.75/9.68, Ethereum at 3400/3370. The market saw a retracement, dropping over 1000 points before recovering. Currently, with the short-term returning to the 98,000 dollar level, please see the following analysis for how to operate.
From the daily chart of Bitcoin, although yesterday's candle formed a small lower shadow that pierced the daily MA5 moving average, it still closed as a red candle, indicating that although the market has shown short-term stagnation, the buying interest willing to take bullish positions below remains high. For today, we should first pay attention to the gain or loss of the daily MA5 moving average and whether there will be an opportunity to retest the MA10 moving average. If there is an opportunity to retest the MA10, we can boldly take a long position; from the 4-hour perspective, yesterday's market retraced to the MA30 moving average and then broke through before closing back. The target is to re-establish above the 4-hour moving averages, pushing the market back into a bullish trend. For short-term support, we should pay attention to the convergence of the 4-hour MA5/10/30 moving averages at the price range of 9.72-9.75; if this level holds, we can still maintain a bullish outlook; otherwise, we look for a retracement to the daily MA10 at around 9.5.
From the daily chart of Ethereum, in recent days, the daily K-line has closed with doji candlesticks with upper and lower shadows. In the short term, there is a divergence between bulls and bears around the 3400 level, and the price has not yet lost the daily MA5/10 moving averages, so we view it as a buying opportunity on a pullback, with support at 3300 and resistance at 3430.
Afternoon operation thought (writing time: 12:00):
BTC: Light long position near 9.73, increase long position on a pullback to 9.65, target above 9.8 (no short-term topping signal has appeared, so do not consider shorting, just wait for pullback opportunities to enter long).
ETH: Light long position near 3350, increase long position on a pullback to 3300, target 3400/3450.
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