Analyst Chen Shu: 12.2 midday Bitcoin and Ethereum market strategy * 1, pay attention to the retracement strength at the 9.6 level after a high and fall.
On December 1st, the midday analysis provided buy positions at 9.58/9.5 for Bitcoin and strategies for Ethereum at 3660/3600. The long positions did not retrace to the strategy entry points, and the market rebounded to a high of 9.8/3766. The long position idea was correct. For short-term high and fall operations, please see the analysis below.
From the daily chart of Bitcoin, the daily candles have formed several small doji candles. Although the price can remain above the MA5/10 daily averages, there has not been a significant opportunity for a rally. The price has formed a range oscillation pattern between 9.6-9.8. Pay attention to the gain or loss at the daily MA10, which is 9.6; on the 4-hour chart, the last 4-hour candle closed with an upper shadow to the body candle, and the price has retraced to the MA30 daily average. Pay attention to the loss of this line during the day. At the same time, the 1-hour chart has also retraced to the MA256 daily average. This was repeatedly mentioned in last week's analysis article that there would be competition around this line.
From the daily chart of Ethereum, yesterday closed with a red doji candle. Today's price has slightly broken the new high, and while it has continued to stabilize above the MA5 daily average, the price on the 4-hour level has already fallen below the MA5/10 daily averages and is about to retrace to the MA30 daily average. Initially, pay attention to the gain or loss of the 3660 support.
Midday operation idea (writing time: 13:00):
BTC: Light long near 9.62/9.53, target above 9.7; light short at 9.9/9.88, target near 9.6.
ETH: Buy near 3660/3620, target above 3700; short position follows Bitcoin synchronously.
Medium to long-term trend: After Bitcoin rebounded to 9.8, it fell back to the 9.6 level. The daily line is still above the MA10 daily average. Although it faced selling pressure and fell back in the short term, it still looks to oscillate with a bullish bias; Ethereum's daily line continues to stay above the MA5/10 daily averages, so we continue to look for a follow-up rally, paying attention to the gain or loss of the 4-hour MA30 daily average.
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