Analyst Chen Shu: 12.13 Afternoon Bitcoin and Ethereum Market Strategy * No. 1, Bullish Market Correction Continues to Buy
On 12.12, the afternoon article analysis provided a Bitcoin long position at 9.9/short position at 10.3, and an Ethereum long position at 3860/short position at 4000. The Bitcoin long and short strategy was correct, although the entry points were slightly off; for Ethereum, the long position at 3860 successfully entered with a maximum profit of nearly 80 points. Congratulations to those who followed the strategy! Currently, in the short term, with Bitcoin fluctuating around the $100,000 mark, please see the following analysis for guidance.
From the daily chart of Bitcoin, yesterday's small bearish candle closed with the price maintaining above the MA5/10 moving averages (9.9). Today, the price is also above the daily MA5/10 moving averages, so continue to monitor the support at this level; on the 4-hour chart, the short-term price is fluctuating between MA10 and MA30 moving averages. If it pulls back to the MA30/60 moving averages today, a long position can be taken. On the 1-hour level, watch for the price to pull back along the MA60 moving average toward the upside. Currently, the MA6 moving average is constantly adjusting upward, so pay attention to whether it will break and stabilize above 10.05.
From the daily chart of Ethereum, yesterday's candle closed with an upper shadow and a red color, with the price breaking and standing above the daily MA5/10 moving averages. The short-term rebound is relatively strong. On the 4-hour chart, the price is maintaining above the MA30/60 moving averages. If it pulls back today without breaking yesterday's low, it will once again test the $4000 resistance level.
Afternoon trading strategy (written at 14:30):
BTC: Light long near 9.9/9.85, target 10.1/10.2; light short above 10.3, target 1-2000 points.
ETH: Light long near 3850/3800, target 3900/4000; consider shorting above 4000 for a short-term trade.
Medium to long-term trend: Bitcoin has returned to a bullish trend. Although there is stagnation at the daily level, it remains bullish. If it continues to hold above the MA5/10 moving averages, it may soon break through historical highs again. I have consistently reminded everyone to buy on dips; Ethereum, with Bitcoin returning to a bullish trend, may look forward to subsequent corrective rallies. Whether the corrective rally can break and stabilize above $4000 is to be seen.
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