12.11 Midnight Bitcoin and Ethereum Market Strategy * No. 2, Short Position Perfectly Profitable, Nightly Focus on 9.48 Support
The analysis provided in the article on 12.10 gave the Bitcoin short position strategy at 9.8/9.9 and Ethereum short position at 3800/3900. The evening market rebounded to a high of 9.82/3770 and then successfully pulled back to reach the target point of 9.6, achieving a profit of 2000 points on the short position. Currently, with a significant short-term pullback, please see the analysis below for operational guidance.
From the daily chart of Bitcoin, today we are again seeing a green K-line. Today's rebound has not successfully stabilized above the MA5/10 day moving averages, having retraced to the MA30 day moving average at around 9.48. The evening market should focus on the support level at this line, and a rebound is expected; pay attention to the strength of the rebound. Looking at the 4-hour chart, the MA120 day moving average support has been thoroughly lost, and the 1-hour level has also tested the effectiveness of the MA256 day moving average (9.8) resistance. If the 9.48 level is clearly lost, the short-term bullish trend may come to an end.
From the daily chart of Ethereum, following the large bearish candle yesterday, today’s daily K-line has again formed a green K-line, and there is further retracement to the MA30 day moving average at 3470 support. Looking at the 4-hour chart, the MA120 day moving average mentioned in today’s article at around 3620 has currently also broken down. Pay attention to the strength of the rebound at the 3470 support level.