Analyst Chen Shu: 12.3 Afternoon Bitcoin and Ethereum Market Strategy * No. 1, Short-term N-shaped trend continues to watch for volatile washing
The afternoon analysis on December 2 suggested long positions at 9.62/9.53, and Ethereum long positions at 3660/3620. The market rebounded to a high of 9.73/3686, and at midnight, a long position strategy at 9.55/3550 was given again. The long position idea was correct, and those who followed the strategy would have gained. Currently, how to operate during short-term weak volatility is discussed in the analysis below.
From the daily chart of Bitcoin, yesterday's daily candle closed with a small upper and lower shadow green candle. The price pierced the MA5/10 daily moving averages and has now returned above the MA10 daily moving average. Watch if it can continue to hold above MA10, which is 9.57; on the 4-hour chart, the overall price currently remains above the MA120 daily moving average and below the MA60 daily moving average. Pay attention to whether it can break and stand above the MA30 daily moving average, which is above 9.65. On the 1-hour chart, continue to monitor the MA256 daily moving average (9.62) for gains and losses. It is expected that the market will still maintain fluctuations around 9.62.
From the daily chart of Ethereum, yesterday's candle pierced down through the MA5 daily moving average, and there is a possibility of a pullback to the MA10 daily moving average during the day. Watch for a pullback to MA10, which is at 3570, for long position opportunities. On the 4-hour chart, the short-term price is fluctuating around the MA5/10/30 daily moving averages. Pay attention to whether it can pull back to the 4-hour MA60 daily moving average, which is at 3540.
Afternoon Operating Ideas (Written at: 14:30):
BTC: Light long near 9.45, target above 9.6; light short at 9.7/9.78, target near 9.6
ETH: Long near 3540/3580/3600, target above 3700; short positions follow Bitcoin synchronously
Medium to Long-term Trend: Bitcoin daily line still maintains above the MA10 daily moving average, while short-term may pull back to the 4-hour MA60 daily moving average, which is at 9.4. Before it breaks below 9.4, it still maintains a bullish volatility outlook; Ethereum is looking to see if it can hold the pullback to the MA10 daily moving average at 3570.
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