Analyst Chen Shu: 5.18 Afternoon Bitcoin and Ethereum Market Analysis Strategy, Short-term Volatility Adjustment Pullback to Continue Buying
From the daily chart, Bitcoin is currently priced at 10.35, oscillating around the MA5/10-day moving average, paying attention to whether the price can stabilize above 10.35 to initiate a new phase of upward movement. On the 4-hour chart, it is currently holding above the MA60-day moving average, and we need to watch if it loses that support. Meanwhile, on the 1-hour chart, the key short-term support is at the MA256-day moving average at around 10.28; if it pulls back to this level during the day, we can look to buy.
Looking at Ethereum from the daily chart, the price has currently dropped below the MA5/10-day moving average, specifically below 2530. If it can stabilize above 2530 again, it will likely continue to test the MA256-day moving average at 2650. The 4-hour support is at the MA60-day moving average at 2480 and the 1-hour MA256-day moving average at 2430; pullbacks to these two levels can also be seen as buying opportunities.
Afternoon Operation Thoughts (Written at: 14:00):
BTC: Current price 10.35 buy, add to position at 10.28, target 10.45/10.5; consider short positions around 10.5/10.6
ETH: Current price 2505 buy, add to position at 2450, target 2550/2600; consider short positions at 2560/2650
The daily analysis strategy has a very high success rate! Analysis is not easy, I hope everyone can give a free follow, favorite, like, and comment. Thank you all, and I welcome everyone to leave comments below; I will reply one by one!
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