Analyst Chen Shu: 12.30 Bitcoin and Ethereum Market Strategy * No. 1, Persistent Weak Oscillation is About to Retrace to Key Support
In the afternoon article analysis on 12.29, Bitcoin and Ethereum long and short strategies were provided. Bitcoin long and short did not fluctuate to the predetermined strategy levels and failed to enter successfully, while Ethereum's short position at 3400 gained a small profit of 60 points. The strategic direction was generally correct. For the short-term weak pullback operations, please see the following analysis.
From the daily chart of Bitcoin, yesterday closed with a small green candlestick, and the price has always been suppressed below the MA5/10-day moving averages. The short-term weak pullback trend is quite obvious. However, it is about to retrace to the daily MA60 moving average at the 9.25 key support level. At the weekly level, it is also about to pull back to the MA10 moving average at the 9.22 level. The intraday market should be treated as first falling and then rising, and the support level for the pullback should first consider the price range of 9.25-22. The first touch can be used as an entry point for a rebound long position.
From the daily chart of Ethereum, yesterday's market basically aligned with the article analysis. When the MA5/10/60-day moving averages overlap, the short-term oscillation contention point is this line at 3380. Continue to pay attention to the gains and losses at this line during the day. The 4-hour view shows that the short-term market is continuously oscillating and adjusting around the 3400 line, with short-term pressure levels first looking at the MA256-day moving average around the price range of 3580-3600.
Afternoon operation ideas (writing time: 14:00):
BTC: Light long at 9.25, add long at 9.2, target 9.4/9.5; light short at 9.6, add short at 9.75, target near 9.4.
ETH: Light short at 3570, add short at 3550, target 3400; long position follows Bitcoin's sync in and out.
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