Analyst Chen Shu: Continue to be bearish on the downward continuation of 8.22. Midday analysis and strategy for Bitcoin and Ethereum market
In yesterday's midday article, a short position was given for Ethereum at 4330. After entering the market on the rebound, it fell to the 4200 level. The short position is currently profitable by over 100 points. Congratulations again to friends who followed the operation.
From the daily chart of Bitcoin, yesterday's trend as analyzed broke below the 11.2 support and then retraced. The short-term rebound is weak, and the daily low is continuously declining. The short-term bearish trend has not ended. The current rebound is judged as a downward continuation. The key resistance level in the short term is 11.48. Looking at the 1-hour level, the short-term resistance level to watch is around 11.34. If the short-term cannot stabilize above the resistance level, it will be difficult for the bulls to gain momentum. Recently, the price has frequently tested the key support around 11.2. It is expected that it will completely break below 11.2.
From the daily chart of Ethereum, unlike the weak rebound of Bitcoin, the current rebound strength of Ethereum is relatively strong, and the bearish downward force is very limited. The daily chart is currently fluctuating and adjusting within the 4380-4250 range. The key resistance level in the short term is still around 4380. Before this level is broken and stabilized, it is advisable to maintain the previous two days' analysis and treat it as a short position on the rebound, with a focus on corrections to 4130/4030.
Midday operation strategy (writing time: 16:00):
BTC: Short at 11.33, add to short at 11.4 on the rebound, target 11.2, reduce holdings when breaking down, and look down to 11.06; a small stop loss near 11.05 to try going long for a 1000-2000 point rebound.
ETH: Current price short at 4330, add to short at 4400 on the rebound, target 4130/4030; look for a 100 point rebound near 4000 below.
Daily analysis strategy has a very high win rate! Analysis is not easy, I hope everyone can give a free follow, favorite, like, and comment. Thank you all, and welcome everyone to leave messages and discuss below. I will reply one by one. $BTC
