Analyst Chen Shu: 12.4 midday Bitcoin and Ethereum market strategy * No. 1, focus on whether the 9.6 level can hold in the fluctuating market.
On December 3, the midday analysis suggested a long position at 9.45, with an Ethereum strategy of 3540/3580 for long positions. In the evening, a short position was suggested at the current price of 9.54, successfully dropping to the target point for a profit of 1500 points. Subsequently, the midday analysis long position at 9.45/3540 also successfully rebounded to 9.66/3700. The total profit from both long and short positions exceeded 3000 points. For the current short-term upward rebound, please refer to the analysis below.
From the daily chart of Bitcoin, yesterday's daily candle formed a doji with a lower shadow, and the price closed above the MA10 daily moving average, not completely losing the MA5/10 daily moving averages. On the 4-hour chart, after yesterday's pullback, it held above the MA120 daily moving average, and the price reached the MA30 daily moving average at the 9.65 resistance level. Pay attention to whether today’s market can stabilize above 9.65. On the hourly chart, observe whether the MA256 daily moving average at 9.6 can break and hold; if the short-term trend needs to return to bullish, it must stabilize above the 9.6-65 price range; otherwise, it will continue to maintain a fluctuating correction.
From the daily chart of Ethereum, yesterday it briefly pierced the MA10 daily moving average but did not break it. Today the price slightly rebounded and reclaimed the daily MA5/10 moving averages. On the 4-hour chart, several consecutive red K-lines have re-established above the MA30 daily moving average, with the resistance level referring to the previous high point of 3730.
Midday operational thoughts (written at: 15:00):
BTC: Light long positions near 9.62/9.55, target above 9.7; light short positions at 9.8/9.75, target near 9.6.
ETH: Light long positions near 3650/3600, target 3700/3750; short positions can be synchronized with Bitcoin for short trades.
Medium to long-term trend: As long as Bitcoin does not lose the short-term support at 9.45, it is still treated as bullish. Although there are short-term long and short divergences, before the key support is lost, it is still treated as a bullish trend with fluctuations. Ethereum has also maintained the support level mentioned yesterday below 3550, showing renewed strength in the short term, although the upward momentum is slightly slower; the short-term outlook remains bullish.
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