Analyst Chen Shu: 11.15 Afternoon Bitcoin and Ethereum Market Strategy *1, Daily Line Stagnation, Long and Short Divergence, Focus on Daily MA5 Gains and Losses
The analysis provided on the afternoon of November 14 offered long and short strategies. Yesterday, there was a temporary pullback during the trading session, breaking below the 4-hour MA5/10-day moving averages, with a low point reaching 8.68. It then began to adjust with fluctuations. Currently, for short-term narrow fluctuations, please refer to the analysis below.
From the daily chart of Bitcoin, yesterday closed with a solid bearish candlestick and retraced to the daily MA5. Today, the price has dropped below the daily MA5. First, pay attention to whether the price can reclaim above the daily MA5. If it can regain this level, it will return to a bullish trend; otherwise, it will continue to adjust weakly. On the 4-hour chart, the price is about to retrace to the MA30 (8.66). Pay attention to whether this support level is effective, while the resistance level can be referenced at the daily MA5, which is 8.85, to see if it can regain this level.
From the daily chart of Ethereum, the trend is basically consistent with yesterday's analysis. The price has retraced to the MA256 (3060). Today, focus on whether the support at 3060 is effective, as it is expected to temporarily stop the decline and adjust with fluctuations based on this support. On the 4-hour chart, the price has also retraced to the MA60, so pay attention to whether this support is effective.
Afternoon Trading Strategy (Written at: 15:00):
BTC: Light short near 8.90, add to short above 8.95, target around 8.65. Consider going long near 8.68.
ETH: Light long near 3060, add to long on a retrace to 3020, target at 3120. Keep short positions in sync with Bitcoin.
Note: Today is Friday, so pay special attention to the market after the U.S. stock market opens in the evening. During the daytime, treat it as a period of adjustment with fluctuations. For resistance, see if the daily MA5 can be projected, and for support, look at the 4-hour MA30.
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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