Analyst Chen Shu: 12.17 Afternoon Bitcoin and Ethereum Market Strategy * No. 1, successful prediction of long positions with profits continuing to buy on the dip
On 12.16, the afternoon article analysis provided a long position for Bitcoin at 10.4 and a strategy for Ethereum at 3920/3880. The lowest point during the afternoon market corrected to 10.33/3880, with the long position perfectly timed for a maximum profit of 3800/100 points. Congratulations to those who followed the operation. Currently, for short-term fluctuations and adjustments, please see the following analysis.
From the daily chart of Bitcoin, the daily candle yesterday formed a small bullish candle, and it broke a new high again. The daily price is moving upwards along the MA5/10 moving averages, showing a clear bullish trend; on the 4-hour chart, the overall price is moving upwards along the MA5 moving average, gradually breaking new highs. The short-term support and buying opportunities lie at the MA5/10 moving averages, while also paying attention to the MA30 moving average on the hourly chart for buying opportunities on dips.
From the daily chart of Ethereum, yesterday formed a doji red candlestick with upper and lower shadows, and the price retraced to the MA10 moving average and then rebounded upwards. The overall price remains above the MA5/10 moving averages; on the 4-hour level, all moving average supports are continuously concentrating upwards, and in the short term, we wait for a retracement to buy, and after breaking and stabilizing above 4000, we will observe the strength of the follow-up rise.
Afternoon trading ideas (writing time: 13:30):
BTC: Light long positions near 10.56/10.4, target above 10.7
ETH: Light long positions near 3980/3920, target above 4050
Medium to long-term trend: Bitcoin continues to maintain a bullish market, and the short-term retracements are all buying opportunities. There is currently no signal indicating a peak, and the bullish outlook remains unchanged; Ethereum is maintaining a bullish trend alongside Bitcoin, and we can look forward to the subsequent rise, whether it will stabilize above 4000 USD before continuing upward.
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