Analyst Chen Shu: 11.18 Afternoon Bitcoin and Ethereum Market Strategy *No. 1, High-Level Narrow Fluctuation Focus on the 90,000 Integer Level Gains and Losses

On November 17, the afternoon analysis provided a long position strategy, suggesting Bitcoin at 8.95/8.88 for long positions, and Ethereum at a range of 3200-3050. The price predictions were accurate, consistent with yesterday's article analysis. Currently, for short-term operations maintaining high-level narrow fluctuations, please see the analysis below.

From the daily chart of Bitcoin, the market fluctuations over the weekend did not show a clear trend. Yesterday, it again closed with a small upper and lower shadow bearish candle, with the price remaining above the daily MA5 moving average. The short-term support point is based on this line as key support. If it breaks below the daily MA5 moving average, it will continue to adjust to the 8.7 level. Looking at the 4-hour chart, the price has consistently remained above the MA30 moving average over the weekend, with this support point at 90,000. The short-term focus should be on the gains and losses of this line, which can be viewed as a dividing line for long and short positions. If it holds, it will continue to fluctuate at a high level; otherwise, it will look for a pullback to the 8.7 level. Just observe the market changes.

From the daily chart of Ethereum, the price is still fluctuating and adjusting above the daily MA256 moving average, with limited rebound strength. The rebound is continuously suppressed by the 4-hour MA30 moving average. If it breaks below the daily MA256 moving average (3050) again, the trend will revert to a downward trend. Currently, the likelihood of breaking below this line in the future seems high.

Afternoon Operation Strategy (Written at: 13:30):

BTC: Consider light short positions in the 9.15-9.2 range looking for a 1-2000 point pullback. For long positions, consider light longs near 90,000, adding to longs at 8.93, with a stop loss of 1000 points after the average price, targeting around 92,000.

ETH: Short at 3130-60, targeting 3050. If it breaks, reduce positions and hold, looking below 3000.

Note: Bitcoin is currently in a short-term high-level fluctuation, with the support point focusing on the gains and losses of the 90,000 integer level. For Ethereum, focus on the breakthrough of the 3160 high point and the situation of breaking below 3050. In the evening, pay attention to the movements of the US stock market to see if it will lead to a simultaneous decline in cryptocurrency prices.

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