Analyst Chen Shu: Bitcoin and Ethereum Market Strategy for December 3rd
- The short-term trend is showing an N-shaped movement, continuing to expect a volatile washout.
On December 2nd, the analysis provided long positions at 9.62/9.53 for Bitcoin and 3660/3620 for Ethereum. The market rebounded to a high of 9.73/3686. At midnight, a new long position strategy was given at 9.55/3550. The long position strategy was correct, and those who followed it would have gained. Currently, for the weak short-term volatility, please see the analysis below.
From the daily chart of Bitcoin, yesterday's daily candle closed as a small green candle with upper and lower shadows, and the price pierced the MA5/10 moving averages. Currently, the short-term price has returned above the daily MA10, focusing on whether it can maintain above MA10 at 9.57. On the 4-hour chart, the overall price is currently above the MA120 moving average and below the MA60 moving average, paying attention to whether it can break above the MA30 moving average at 9.65. On the 1-hour chart, continue to monitor the MA256 moving average (9.62) for gains and losses, and it is expected that the market will continue to fluctuate around 9.62.
From the daily chart of Ethereum, yesterday's candle pierced the daily MA5 moving average downwards, and there is a possibility of a pullback to the daily MA10 moving average. Focus on the pullback opportunity at MA10 around 3570. On the 4-hour chart, the short-term price is fluctuating around the MA5/10/30 moving averages, paying attention to whether it can pull back to the 4-hour MA60 moving average around 3540.
Afternoon Trading Strategy (Written at 14:30):
BTC: Light long positions near 9.45, target above 9.6; light short positions at 9.7/9.78, target near 9.6.
ETH: Long positions near 3540/3580/3600, target above 3700; short positions follow Bitcoin synchronously.
Medium to Long-term Trend: Bitcoin's daily chart remains above the MA10 moving average, while the short-term may pull back to the 4-hour MA60 moving average around 9.4. As long as it does not fall below 9.4, the expectation remains for a volatile upward trend. For Ethereum, watch whether it can hold the daily MA10 moving average around 3570 during the pullback.
The daily analysis strategy has a very high win rate! Analysis is not easy, and I hope everyone can give a free follow, save, like, and comment. Thank you all, and feel free to leave comments below; I will reply to each one!
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