Analyst Chen Shu: 3.1 Afternoon Bitcoin and Ethereum Market Strategy Report, the market's sharp decline and rebound should not be overly bearish in the short term.

From the daily chart of Bitcoin, yesterday's daily line closed with a long lower shadow green K-line, and today it rebounded to the MA5 daily moving average, with the price touching near the MA256 daily moving average. The short-term downtrend has basically stopped, and it is currently rebounding slowly. Pay attention to whether the price can stabilize above the MA5 daily moving average; on the 4-hour chart, the continuous rebound has currently broken through the MA5/10 daily moving averages to the MA30 daily moving average resistance level. Focus on the breakthrough situation of the MA30 daily moving average at 9.7. The key short-term resistance levels are the MA60 daily moving average at 9.2 and the previous bottom support at 9.5.

From the daily chart of Ethereum, yesterday also closed with a green K-line with a lower shadow. The daily line initially shows a double bottom probing around the 2100 level. If it holds above the 2100 level, it will form a double bottom structure on both the daily and weekly charts, driving the price to rebound. On the 4-hour chart, it has continuously closed red K-lines, breaking above the MA5/10 daily moving averages. Pay attention to whether the pullback supports holding.

Afternoon trading strategy (written at: 14:30):

BTC: Current price 8.5 light long position, add to long position on pullback to 8.38, target at 9.2/9.0; consider light short positions at 9.2/9.4 for a pullback.

ETH: Current price 2235 light long position, add to long position on pullback to 2200, target at 2350/2500;

The daily analysis strategy has a very high win rate! Analysis is not easy, I hope everyone can give a free follow, bookmark, like, and comment, thank you all, and feel free to leave comments below for discussion; I will reply one by one!

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