Analyst Chen Shu: Midnight Bitcoin and Ethereum Market Strategy
On December 4th, the analysis provided long positions at 9.62/9.55 for Bitcoin and strategies for Ethereum at 3650/3600. After a midday surge to a high of 9.7, the price retreated and broke below the support level of 9.55. Currently, for short-term continuation of the pullback, please refer to the following analysis.
From the daily chart of Bitcoin, after yesterday's close with a lower shadow doji, today's price rebound has not been able to hold above the daily MA5/10 moving averages. It is currently facing pressure and has fallen below the MA10 moving average. Pay attention to the situation of the 4-hour MA120 moving average (9.47). If it can break through 9.47 like yesterday's trend and close above it, we can expect a consolidation adjustment. Conversely, if it fails, we may see a pullback to the $90,000 level. On the 1-hour chart, we will observe whether the MA256 moving average at 9.58 forms a second pressure level.
From the daily chart of Ethereum, today's price surged to a high of 3860. The daily chart is currently holding above the MA5/10 moving averages. We need to pay attention to the pullback strength of Ethereum as Bitcoin adjusts downwards. If it can continue to hold above the daily MA5/10 moving averages, we can expect a continued upward trend. On the 4-hour chart, we will look at the support situation around 3740/3680.
Midnight Trading Strategy (Written at: 01:00):
BTC: Light long positions near 9.2/9.25, target above 9.5; light short positions at 9.58/9.65, target near 9.6 (if it completely breaks below 9.45, then follow the short position).
ETH: Light long positions near 3580/3670, target 3700/3750; short positions can follow Bitcoin for short-term trades.
Medium to Long-term Trend: Bitcoin is still focused on the key support level of 9.45. If it completely breaks below, it may pull back to the 9.2/90,000 level. Conversely, if it holds, we can expect a consolidation adjustment. Ethereum is showing short-term strength again. Although it cannot maintain a strong bullish trend, both the daily and 4-hour charts are showing short-term bullish trends. Pay attention to pullback opportunities for long positions.
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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