12.11 Afternoon Bitcoin and Ethereum Market Strategy * No. 1, Both Long and Short Positions Successfully Profited, Looking for Range Consolidation
The analysis from the afternoon article on 12.10 provided a short position strategy for Bitcoin at 9.8/9.9, and the evening market rebounded to a high of 9.82 before retracing to a low of 9.42 as expected, successfully profiting 4000 points from the short position. Later, the midnight article analysis suggested a long position strategy at 9.45, perfectly timing the entry, and the current long position has gained another 3000 points. Congratulations to those who followed the operations! Currently, for how to operate in the short term and stop the decline, please see the analysis below.
From the daily chart, Bitcoin has formed two consecutive days of lower shadow candles, retracing to the support of the daily MA30 moving average. In the short term, effective support has been established at the daily MA30 moving average, and the retracement trend has temporarily ended. Currently, the price is touching the resistance level of the daily MA5/10 moving averages. Today, we will focus on whether the rebound can rise above this line again; on the 4-hour chart, the current price is rebounding again, testing the resistance of the MA30/60/120 day moving averages. It is expected to oscillate around the 1-hour MA256 moving average, which is at the 9.8 level. In the short term, the focus should be on the gains and losses around 9.8. Approach operations with an oscillation mindset.
Looking at the daily chart of Ethereum, after two consecutive days of green K lines, the price has retraced to the daily MA30 moving average, while the MA5/10 moving averages are merging and turning downward. The short-term weak retracement trend is quite evident. The overall key resistance level to watch is whether it can rise back above the 1-hour MA256 moving average, which is above 3800, as well as the daily MA5/10 moving averages.
Afternoon Operation Strategy (Written at: 14:00):