Analyst Chen Shu: Bitcoin and Ethereum market strategy No. 1 at noon on November 13, the short-term correction trend is obvious, short-term intraday first look at the 8.4 support
The analysis at noon on November 12 gave a long idea, long at 8.77/3300. The European session began a rapid decline to the low of 8.55/3220, and then rebounded to the high of 8.99/3300 before going out of the correction. Please see the following analysis for how to operate after the short-term obvious correction.
Looking at the daily chart of Bitcoin, yesterday's daily line closed with a small negative K-line with a lower shadow. The upward trend at the daily level has temporarily stopped. Pay attention to whether the price will fall back to the daily MA5 daily moving average (84000) line; in the 4-hour chart, after failing to reach the high point of 8.99 again last night, it has received 3 green K-lines and has currently fallen below the 4-hour MA5/10 daily moving average. In the short term, the correction is obvious. It is recommended to operate in the short term first and then the long trend. Pay attention to the support of the 8.4 daily line.
Looking at the daily chart of Ethereum, yesterday's large negative line continued today. The current price has a trend of correcting back to test the daily MA256 average line (3065). The short-term bearishness is also quite obvious. The support will first look at the gains and losses of 3060. If it can hold after breaking through, we can see a wave of shocks. Otherwise, it will test the daily MA10, which is 2950, downward.
Lunchtime operation ideas (writing time: 15:00):
BTC: Short lightly around 8.68, increase short position when it rebounds to 8.72, target 8.5, reduce position when it breaks and hold to look down to around 8.4 (consider going long when it first drops to 8.4, overall maintain the idea of shorting first and then going long)
ETH: Short lightly around 3140, increase short position when it rebounds to 3180, target 3060, reduce position when it breaks and hold to look down to 2950, consider long positions following Bitcoin
Note: The short-term correction trend is quite obvious. Don’t go long at this position now. The long position can be considered at 8.4/3050, but it depends on the specific trend. For now, go short first and don’t rush to go long.
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