Trader Chen Shu: October 11 Afternoon Bitcoin and Ethereum Market Strategy *No. 1, the dip and rebound still require shorting attention on the gains and losses at 6.05

The analysis in the article from October 10 provided both long and short strategies, but there weren't good entry points. Currently, the market is experiencing a dip and rebound; please see the analysis below for operational guidance.

From the daily chart of Bitcoin, after yesterday's price broke below the 6.05 support, it quickly dipped to around 5.9, then rebounded back above 60,000. Currently, the daily resistance level is near the MA120 moving average (6.14), while the short-term resistance level is at 6.05. If the rebound breaks through 6.14, it will continue to test the daily MA256 moving average (6.2); on the 4-hour chart, the price has rebounded from 5.9 and is now approaching the MA10 moving average (6.06) resistance. If it breaks and holds above, it will continue to test the 4-hour MA60/30 at 6.18/6.2, so we should first pay attention to the strength of the short-term rebound.

Ethereum remains in a weak oscillation. From the daily chart, it has consistently failed to break through the MA5/10 moving averages around 2400. The next resistance level is the daily MA30 moving average (2480); on the 4-hour chart, the price showed a tendency to test the 2300 level again yesterday. Currently, the short-term rebound faces resistance at the 2430 and 2460 levels.

Afternoon Operational Thoughts:

BTC: Light short at 6.14, add to short at 6.2 on rebound, target 6.05. If it breaks, reduce positions and hold for a target of 5.9; long positions need to consider the stability at 6.05, primarily focusing on shorting on the rebound.

ETH: Light short at 2430, add to short at 2460-80 on rebound, target 2400. If it breaks, reduce positions and hold for a target of 2350.

Note: Although there was a short-term dip to 5.9 followed by a rebound back above 60,000, the strength of the rebound is not very strong, and the overall trend remains relatively weak. It is advisable to treat the range of 6-6.2 cautiously, and long positions should only be considered if it stabilizes above 6.05.

The daily analysis strategy has a very high win rate! Analysis is not easy, so I hope everyone can give a free follow, save, like, and comment. Thank you all, and feel free to leave messages for discussion below; I will reply to each one!

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