Analyst Chen Shu: 12.5 midnight Bitcoin, Ethereum market strategy * No. 2, under pressure and falling back to continue the weak adjustment to look at 9.47 gains and losses.
On December 4th, the midday analysis gave a long position at 9.62/9.55, Ethereum 3650/3600 long position strategy idea. After the midday surge to 9.7 high point, it retraced and broke below the 9.55 support level. Currently, please see the following analysis for short-term adjustment operations.
From the daily chart, Bitcoin, after closing a lower shadow doji yesterday, today the price rebounded but failed to stand above the daily MA5/10 moving averages, currently encountering pressure and falling below the MA10 moving average. Pay attention to the 4-hour MA120 moving average (9.47) breakdown situation. If it can pierce 9.47 like yesterday's trend and recover, then we will see a震荡调整行情 (fluctuating adjustment market), otherwise, we will look at a pullback around the 90,000 line. For the 1-hour level, we will see if the MA256 moving average at 9.58 forms a second pressure level.
From the daily chart, Ethereum, today's price surged to the high point of 3860, currently maintaining above the MA5/10 daily moving averages. Pay attention to the retracement strength of Ethereum as Bitcoin's downward adjustment trend continues. If it can continue to hold the daily MA5/10 moving averages, we will continue to see a fluctuating rising market. For the 4-hour level, we will look at the support situation around 3740/3680.
Midnight operation idea (writing time: 01:00):
BTC: Light long positions around 9.2/9.25, target above 9.5; light short positions at 9.58/9.65, target around 9.6 (if 9.45 is completely lost, then follow short and look for bearish).
ETH: Light long positions around 3580/3670, target 3700/3750; short positions can follow Bitcoin for short-term trades.
Medium to long-term trend: Bitcoin is still watching the key support point of 9.45 gains and losses. If it completely loses that point, the short-term may pull back to the 9.2/90,000 line. Conversely, if it holds, we will see a fluctuating adjustment; Ethereum shows strength again in the short term. Although it cannot continue the strong bullish market, both the daily/4-hour levels are showing a short-term bullish market, pay attention to pullback buying opportunities.
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