Analyst Chen Shu: 11.5 Midday Midnight Bitcoin and Ethereum Market Strategy *1, Yesterday's Short Position Profited, Focus on the Strength of the Pullback Today

On November 4th, I published an article providing a short-selling strategy for the rebound, suggesting a short position at 6.93/2500. Bitcoin rebounded to around 6.92 at its highest, then dipped to the target point of 6.7, successfully capturing over 2000 points on the short position. The analysis was correct. Currently, for the short-term stop-loss rebound, please see the analysis below.

From the daily chart of Bitcoin, yesterday's market fell back to the daily MA30 moving average as analyzed. The short-term stop-loss rebound focuses on whether the price can return above the daily MA5/10 moving averages, which is also the pressure point for the short-term rebound. On the 4-hour chart, after breaking below the 4-hour MA120 moving average (6.86) last night, the market accelerated its decline to test the low point of 6.7. Currently, the short-term has rebounded to this line again, and we should pay attention to whether it can stand back above 6.86. The overall strength of the market still focuses on the 1-hour level MA256 moving average at 6.93.

On the daily chart of Ethereum, yesterday's market trend was basically consistent with the analysis in the article, pulling back to test the support at the low point of 2380-50. Overall, it still presents a weak oscillating adjustment market. The pressure point should first refer to the 4-hour MA5/10 moving averages. Before breaking and stabilizing above the 4-hour MA5/10 moving averages, we should maintain a bearish outlook.

Midday Trading Strategy (Written at: 14:30):

BTC: Light short near 6.92, add to short on a rebound to 6.96, target around 6.8, reduce position if it breaks and hold to look at 6.7.

ETH: Light short near 2450, add to short on a rebound to 2480, target first at 2400, reduce position if it breaks and hold to look at 2380.

Note: Currently, the short-term has stopped falling and rebounded. Today, we need to pay attention to the strength of the pullback. If it continuously rebounds and stabilizes above 6.95, then we cannot treat the short-term with a one-sided bearish outlook.

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!

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