Analyst Chen Shu: Is the decline stopping on 8.27 and stabilizing for a rebound? Bitcoin and Ethereum market analysis
From the daily chart, Bitcoin's price dipped below the MA120 daily moving average yesterday and closed with a small red K. Currently, it has rebounded to the key daily resistance level around MA11.23. Today, focus on the breakthrough situation at this position; until it breaks through, it should be treated with a bearish trend. In the 4-hour chart, there is a clear resistance at 11.23, causing a pullback. Today, pay close attention to the breakthrough and stabilization of the resistance price band of 11.23-11.3. If the price tests the 10.9 low point again without breaking, then consider going long to look for a rebound.
From the daily chart, Ethereum closed with a small bullish candle yesterday, bringing the price back to the 4600 high point. For short-term support, pay attention to the gains and losses around 4560, while the resistance level is around 4690. For short-term operations, treat this small range accordingly. Additionally, pay attention to the 4640 resistance level, which coincides with the 1-hour MA120 daily moving average and the 4-hour MA30 daily moving average resistance. Focus on whether the price can break through this level.
Afternoon operational ideas (writing time: 14:30):
BTC: Short at 11.22, add to short at 11.3 on rebound, target 11.0/10.9; small stop loss for long near 10.8/10.9.
ETH: Small short position at 4630, add to short at 4680/4760 on rebound, target 4560/4530; small stop loss for long near 4460/4400.
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 to each one. $BTC