Analyst Chen Shu: How to view next week under high temperature horizontal trading on August 24? Midday Bitcoin and Ethereum market analysis strategy
From the daily chart of Bitcoin, the two days of the weekend currently show a small bearish candle retracing to the MA60 daily moving average line at 11.5. Pay attention to the loss of this line; if it is lost, the short-term will continue to retrace and test the previous low support. The short-term pressure level on the 4-hour chart remains at the 11.72 line, as mentioned in yesterday's analysis. The short-term has continuously made slight retracements, with support below focusing on the MA30 daily moving average line at 11.42. For today, first pay attention to the gains and losses at these two positions.
From the daily chart of Ethereum, after a short-term surge, it is currently maintaining a high horizontal trading position above 4700. Short-term attention needs to be paid to the loss of the 4750-4700 price range. If it continues to oscillate above this price range, it may break upward again. The 4-hour level is still maintaining above the MA5/10 daily moving averages, while the 1-hour level is also maintaining above the MA30 daily moving average; pay attention to the loss of this position.
Midday operation thoughts (writing time: 15:30):
BTC: Short at 11.52, add to short on rebound at 11.62, target 11.42/11.35; small stop loss near 11.26 to attempt a long position looking for a 1-2000 point rebound.
ETH: Short at 4770, add to short on rebound at 4820, target 4650/4560; below near 4650/4560 look for a 100 point rebound.
Daily analysis strategy has a very high win rate! Analysis is not easy; I hope everyone can give a free follow, bookmark, like, and comment. Thank you all, and feel free to leave messages below for discussion; I will reply one by one. $BTC