Liang Qiu: 11.8 Bitcoin/Ethereum Trading Strategy with Market Analysis
Bitcoin/Ethereum experienced significant volatility overnight with clear upward and downward movements, and the trend appears to be strengthening further. Our strategy laid out yesterday has had some adjustments but overall the losses have not been substantial following the breakout. Currently, after Bitcoin/Ethereum breaks through 102000 and 3400, we will pay attention to whether this position can stabilize and further rise from there. On the daily chart, the key resistance levels to watch above are 104000 and 3480; a breakthrough here would lead to smooth sailing, but overall this weekend we may see a wave of correction and consolidation.
From the four-hour perspective, Bitcoin has seen a rise followed by a drop, while the Ethereum trend has clearly strengthened. During the earlier live session, it was mentioned that if Bitcoin is in a sideways or slightly upward trend, and altcoins are experiencing a general uptrend, then there is potential for further price increases, and one should exit if breaking below the support. On the daily MA indicators, the 7-day moving average is currently at 3488 and 104200, which is also the level that was not broken during the early hours. This weekend, we can first look for a short-term retracement downwards during the correction process.
Trading Suggestions: Short Bitcoin at 103200-103600, targeting around 101800; Short Ethereum at 3460-3480, targeting around 3380.
【The above analysis and strategies are for reference only, please bear the risks, and the article's review and publication may not be timely; please refer to real-time data】