Trader Chen Shu: Bitcoin and Ethereum Market Strategy *1 at 9.7 Noon, After Testing Support, Look for Rebound Strength!

Summary of the evening of September 6th: Two long articles were provided on Friday evening, clearly indicating that the non-agricultural expectations were for a high and then a fall market. Bitcoin gave a short at 56,000/56,500, and Ethereum gave a short at 2370/2400, both of which were successfully closed for profit, with a profit space of 2000/120 points. In the early morning, it was suggested to rely on the 15/30-minute chart for a rebound near 54,000 to continue shorting and look for support at 52,500, and it was clearly stated that the next support would be at 52,500 and 2150/2080. The support points were accurately grasped, and long positions were taken based on the support, which is currently profitable! Continuous profit-taking in September! Perfectly grasping the maximum profit space through continuous analysis, congratulations to friends who followed the article analysis! Currently, there is a short-term rebound, please see my following analysis for whether it will fall again.

Bitcoin is currently oversold after a sharp decline, and the indicators are all oversold. Affected by the decline in the US stock market on Friday, the price of Bitcoin fell to a low of 52,500. The 52,500 low is the 120-day moving average support of the MA120 line, which is also the position of the drop on August 3rd. After the oversold on August 3rd, it rebounded to a high of 64,000. This time it touched this support line again. Whether it can rebound on a large scale like in August, I am currently pessimistic about this. I am more optimistic about a rebound to 55,000 - 57,000 and then falling again. Trading does not predict the market, only makes judgments based on the current trend. Currently, there is a short-term rebound, and the 4-hour chart has broken through the MA5 moving average. The next position is the MA10: 55,000. If it reaches 55,000, we need to pay attention to the breakthrough of this pressure level.

As for Ethereum, the rebound first looks at the 4-hour MA10 near 2310. If this line can stabilize after oscillating adjustment, the short-term rebound will continue to test near 2400, with short-term support at 2250, which is the MA5; operationally, you can look for opportunities to go long on the pullback.

Midday operation suggestions:

BTC: Current price 54,300, try a small long position first, consider adding to the long position below 54,000, and the short-term target is to look at 55,000 first. If the pullback from 55,000 is not significant, you can continue to go long and look at around 56,000; for short positions, wait for opportunities above 55,000.

ETH: Current price 2280, take a small long position, add to the long position at 2270-60 on the pullback, and the initial target is to look at 2350, and if it breaks through, look at 2400.

Note: The short-term bias is towards a rebound, but it does not mean that the current overall trend has turned bullish. Short positions should still be taken at high levels. Several pressure levels to watch: 55,000, 56,800 / 2300, 2360, 2400

The daily analysis strategy has a very high success rate! Analysis is not easy, I hope everyone can give a free follow, bookmark, like, and comment, thank you, and welcome everyone to discuss in the comments below, I will reply to each one! Real-time market strategy communication can be found by clicking on my profile to see the introduction. Ranked first in (Coin World), a personal KOL main V, providing free guidance on actual trading and answering trading questions, welcome everyone to communicate and discuss!

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