Analyst Chen Shu: November 2nd Afternoon Bitcoin and Ethereum Market Strategy *1, Weak Fluctuating Market Focus on Support Levels 6.96-6.9

On November 1st, I published a rebound shorting strategy, suggesting short positions at 7.07/2570. The market rebounded to a high of 7.16/2580, and in the evening, it fell below the 70,000/2500 line. Bitcoin made a small profit while Ethereum dipped to the target point of 2580, achieving around 90 points in profit. Congratulations to those who followed the strategy. Currently, on Saturday, we maintain a weak fluctuating market. Please see the analysis below for operational guidance.

From the daily chart of Bitcoin, yesterday's daily candle closed as a bearish K-line, piercing the daily MA10 moving average line (6.95). Today, we need to pay attention to the gains and losses at this 6.95 position, while the resistance level to watch is the breakthrough and stabilization above the MA5 moving average (7.09). On the 4-hour chart, the short-term view shows that the MA60 moving average (6.9) has continuously provided support. The short-term support is clearly at the 6.9 line, and on the 1-hour chart, the short-term pullback found support at the 1-hour MA256 moving average (6.9). We should focus on the gains and losses at this position; if it holds, we will temporarily enter a consolidation phase.

On the daily chart of Ethereum, yesterday's candle formed a doji with upper and lower shadows, with the price finding support at the MA60 moving average (2490). Today, we need to monitor the situation if this position is lost. The resistance levels to reference are the MA30 moving average (2530) and the 4-hour MA256 moving average (2550), as well as the two resistance levels at MA30/120 moving averages (2580).

Afternoon Operational Thoughts (Written at: 13:30):

BTC: Maintain high selling and low buying within the 6.9-7.0 range over the weekend; trend trading will be provided in tomorrow's analysis article.

ETH: Short near 2530, add to the short position on a rebound to 2550, targeting 3-50 points.

Note: Currently, the short-term market is in a weak fluctuation phase. The first short-term support to focus on is the daily MA10 moving average at 5.95, as well as the key support at 6.9 on the 1/4 hour. If it breaks and loses this level, the short-term market will completely enter a weak phase. Saturday is expected to have little volatility; we will observe the specific trend on Sunday night.

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 comments below; I will reply to each one!

For real-time market strategy discussions and inquiries about market issues, you can follow my personal account homepage, the original (Coin World) ranked first personal KOL main influencer, providing free guidance and answering trading questions. Everyone is welcome to communicate and exchange ideas!

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