Analyst Chen Shu: Midnight Bitcoin and Ethereum Market Strategy on 12.17 * No. 2, Long Positions Continue to Profit and Remain Bullish
In the article analysis on 12.16, a Bitcoin long position was given at 10.4, and an Ethereum strategy was provided for the range of 3920/3880. The market during the afternoon saw a minimum pullback to 10.33/3880, with long positions perfectly timed for a maximum profit of 2800/100 points. Congratulations to those who followed the operation. For the current short-term operations, please see the analysis below.
From the daily chart of Bitcoin, it shows that the daily line has once again closed in the red and has broken through to a new high, indicating a clear overall bullish trend, which is expected to continue upward. The 4-hour chart shows that the overall market, as mentioned in the afternoon article, has pulled back to the MA10 daily moving average and is moving upward again. The short-term support can be observed at the MA5/10 daily moving averages. On the 1-hour level, it has pulled back to the MA30 daily moving average, leading to a significant short-term rebound and breaking through to a new high. Focus on pullback opportunities to go long.
From the daily chart of Ethereum, today, under the condition of Bitcoin's rise, Ethereum is showing a short-term oscillating market. The daily line has pulled back to the MA5/10 daily moving averages and is holding. On the 4-hour level, it has pulled back to the MA30/60 daily moving averages at 3900/3880. In the short term, it is still under pressure at the 4000 USD round number, so pay attention to the subsequent opportunities for a rebound.
Midnight Operation Thoughts (Written at: 01:00):
BTC: Light long positions near 10.5/10.38, target above 10.6
ETH: Light long positions near 3920/3880, target above 4000
Medium to Long-term Trend: Bitcoin continues to maintain a bullish market, and short-term pullbacks are opportunities to go long. There are currently no signals indicating a peak, so the bullish outlook remains unchanged. Ethereum, while Bitcoin maintains a bullish trend, can expect subsequent rebound opportunities. Whether the rebound will stabilize above 4000 USD remains to be seen.
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