Analyst Chen Shu: The August 21 strategy has seen consecutive profits. Focus on the 11.45 resistance level. Bitcoin and Ethereum market analysis and strategies for the afternoon session.
Yesterday's afternoon article suggested going long on Ethereum at 4150. The market rebounded to 4380, resulting in a 200-point profit on the long position. Congratulations again to everyone who followed along.
Looking at the daily Bitcoin chart, yesterday's small positive candlestick saw the price rebound to the 60-day moving average at 11.45, where it encountered resistance. Focus will be on whether the price can rebound and stabilize above 11.45. Looking at the 4-hour chart, the short-term rebound was weak. Although the price rebounded after hitting a bottom yesterday, the momentum for buying below it was clearly weak. It is expected to retest the 11.2 support level. In the short term, as long as the price fails to hold above 11.45, the market should remain short. 11.2 is a key defensive level for bulls. A break below this level will accelerate the decline.
Looking at the daily chart, Ethereum closed with a large bullish candlestick yesterday, reversing the previous day's decline. The rebound was strong. Short-term resistance is being monitored for a breakout and stabilization of the daily MA10 moving average at 4430. Support is being monitored for the MA30 moving average at 4000. On the hourly chart, the key short-term resistance is the MA256 moving average at 4410. Watch for a breakout and stabilization of this level.
Lunchtime Trading Strategy (written at 2:00 PM):
BTC: Short at 11.42. Increase short positions on a rebound to 11.5, targeting 11.2. Reduce positions on a breakout and hold, aiming for a move down to 11.06. Set a small stop-loss near 11.2 and attempt a long position, anticipating a 1-2000 point rebound.
ETH: Short at 4330. Increase short positions on a rebound to 4400, targeting 4100/4000. Seek a 100-point rebound near 4000.
Daily analysis strategy with a very high win rate! This analysis isn't easy, so I hope everyone will give me a free follow, favorite, like, and comment. Thank you. Feel free to leave a comment below to discuss. I'll respond to everyone. $BTC
