Analyst Chen Shu: 12.31 Afternoon Bitcoin and Ethereum Market Strategy * No. 1, Yesterday's long position perfectly predicted daily support at 9.2
The analysis provided in the afternoon article on 12.30 gave Bitcoin and Ethereum long and short position strategies. Bitcoin's long position at 9.25/9.2 successfully entered, rebounding to the target point of 9.5, securing a gain of 3000 points, while Ethereum's long position also gained 100 points. Congratulations to those who followed the operation. Currently, for the short term, how to operate while maintaining a weak trend is discussed in the following analysis.
Looking at Bitcoin from the daily chart, it once again formed a small green K-line yesterday, with the price rebounding to the MA5/10-day moving average before declining. As the MA60-day moving average at 9.29 continues to be revised upward, the short-term is currently oscillating around 9.29. The short-term support point focuses on the weekly MA10-day moving average at 9.2 and the daily price range of 9.29; on the 4-hour chart, yesterday's market rebounded to the MA30-day moving average before declining again, establishing a weak short-term market, and intra-day operations should be treated with a bearish bias.
Looking at Ethereum from the daily chart, it formed a doji yesterday, with the price constantly contending around the MA5/10/60-day moving averages. Although it has not completely lost this level, the short-term weakness is also quite evident; on the 4-hour chart, the overall market is basically oscillating in the 3300-3430 range, with the major pressure point at the overlapping MA256/120-day moving averages at the 3580 level, and the short-term pressure point focuses on whether it can break and hold above 3380.
Afternoon Operation Thinkings (Written at: 14:00):
BTC: Light long at 9.2-9.25, stop loss at 9.15, target at 9.3/9.4; light short at 9.4, add short at 9.48, target near 9.2 (mainly short on rebounds)
ETH: Light short at 3380, add short at 3430, target at 3300; long positions follow Bitcoin's entry and exit
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