Analyst Chen Shu: 11.28 Midnight Bitcoin, Ethereum Market Strategy *No. 2, Short-term Continuous Rebound Recovers Decline Focus on 9.6 Pressure
On November 27, the midday analysis provided a short position strategy idea, suggesting 9.46/3500 short position thoughts. Today's market overall is gradually moving up again, returning to above 9.45. Currently, for short-term operations on how to maintain the fluctuating rebound upwards, please see the following analysis.
From the daily chart of Bitcoin, today’s daily line currently forms a large bullish candlestick, with the price rising to the daily MA5/10 day moving average. If it directly breaks above this line, then the market may return to a unilateral bullish trend, otherwise, it will look for a wide fluctuation adjustment; on the 4-hour chart, consecutive red candlesticks have formed, and the current price is testing the MA30 day moving average (9.6) pressure level. Pay attention to whether the midnight market can break through the 9.6 pressure level. The 1-hour level market has directly broken above the MA256 day moving average (9.47) pressure level. If it confirms this support effectively on a pullback, then the short-term may first abandon directly going short.
From the daily chart of Ethereum, today’s market welcomes a significant rebound forming a large bullish candlestick. Yesterday’s price retraced and tested the daily MA10 day moving average, and today welcomes a volume increase opportunity; on the 4-hour chart, it has currently broken through the previous high point pressure and is about to look up at 3600. The 1-hour chart has continuously formed bullish candlesticks, and the short-term bullish trend is quite obvious, with pressure levels around 3600-3650.
Midnight Operation Ideas (Drafting time: 00:30):
BTC: If it breaks and stabilizes above 9.48/9.6, do not consider going short, switch direction to long, otherwise look for pullback opportunities to short.
ETH: A pullback to the 1-hour MA5 day moving average can consider lightly entering long, while around 3650 can consider a light short to watch for a pullback.
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