Analyst Chen Shu: 11.19 Afternoon Bitcoin and Ethereum Market Strategy *No. 1, yesterday's strategy took profit, and we still need to go long on the pullback!
On November 18, the afternoon analysis provided long and short strategy ideas. Bitcoin suggested long positions at 9-8.93 and short positions in the 9.15-9.2 range. The predictions for both long and short were accurate. Ethereum suggested a short strategy in the 3130-3160 range, with precise point predictions, consistent with yesterday's article analysis. Currently, the short-term maintains a narrow range of high-level fluctuations. Please see the following analysis for operational guidance.
From the daily chart of Bitcoin, yesterday closed with a red K-line with an inverted hammer, and the price formed a noticeable resistance area around 9.25. The overall price remains above the daily MA5 moving average, continuing the bullish trend in the short term. The 4-hour trend is basically as analyzed in yesterday's article, with the overall K-line staying above the 4-hour MA30 moving average. As long as this line is not broken, the short-term price will not trend towards a bearish pullback. Therefore, treat this line as the dividing line for long and short positions in the short term. Before it breaks down, we can go long on pullbacks; after it breaks, we can follow the trend and go short.
From the daily chart of Ethereum, yesterday closed with a large bullish candlestick, and the price broke through the daily MA5/10 moving averages but has since pulled back again today. The upward momentum cannot be sustained. The short-term support remains at the MA256 moving average (3050), while also monitoring whether the price can stabilize above 3100 in the 4-hour timeframe, where the 4-hour MA30 moving average support is located.
Afternoon operational thoughts (writing time: 15:00):
BTC: Light long at 9.03, add to long on a pullback to 8.95, target around 9.2; light short at 9.2 above, target around 9.1.
ETH: Continue to trade in the 3050-3200 range, waiting for a successful breakout of this range before following up with operations.
Note: As long as the price does not break below the 4-hour MA30 moving average (9.1), treat it as bullish and go long. It is also fine to follow up with shorts after it actually breaks this line. For Ethereum, pay close attention to the 3050 level.
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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