Analyst Chen Shu: 5.23 Afternoon Bitcoin and Ethereum Market Analysis Strategy, Focus on Pullback Strength After Price Consolidation at High Levels
From the daily chart, Bitcoin's price has once again broken through new highs. The short-term support is initially at the MA5/10 daily moving averages, which are 10.88/10.65. On the 4-hour chart, the price is oscillating and adjusting above 110,000, with a pullback to the MA10 daily moving average. Pay attention to whether the price breaks below the 10.07 support level. The pressure point on the 1-hour chart is at the 1-hour MA30 daily moving average of 11.1; focus on the pullback strength in the short term.
Looking at Ethereum from the daily perspective, the price has broken through the daily MA256 moving average at the key resistance level of 2660. Pay attention to whether the price can stabilize above 2660; if it can, it will officially start a short-term bullish trend. The key support level to watch is 2660. If it pulls back and breaks below 2660, it will fall into a pullback adjustment phase in the short term.
Afternoon Operation Thoughts (Drafting Time: 14:00):
BTC: More than 110,000, add more at 10.9, target 11.1/11.2; short at 11.12, short on rebound at 11.11, add short at 11.16, target 110,000/10.9
ETH: Long at 2630, add more at 2570, target 2680/2720; consider short positions at 27000/2730
Daily analysis strategy has a very high win rate! Analysis is not easy, and 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