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Bitcoin and Ethereum: Technical Chart Analysis and Afternoon Trading Strategy
In the complex landscape of the cryptocurrency market, Bitcoin and Ethereum, as the two dominant assets, attract significant attention regarding their price movements. By deeply analyzing the daily charts and related technical indicators of both, investors can gain valuable decision-making insights and formulate afternoon trading strategies.
1. Bitcoin Daily Chart Analysis
The Bitcoin daily chart exhibits significant price dynamic characteristics. Yesterday, it recorded a red K-line with a short upper shadow, indicating that there was some upward resistance during the price increase, but the bullish forces still dominated, pushing the price to close at a high. Notably, Bitcoin's price has once again broken through to a new high, peaking at 9.4. From the moving average indicators, the MA10 daily average line shows an upward tilt and is about to form a golden cross with the MA5 daily average line. This phenomenon is typically seen as a signal of a strengthening short-term bullish trend, suggesting that the price may continue to gain upward momentum in the short term. However, the support area formed by the MA5/10 daily moving averages is crucial, as its effectiveness will directly determine whether Bitcoin's price can maintain a strong pattern in the short term. If this support area holds, Bitcoin is expected to further expand its upward space under the bullish trend; conversely, if the support fails, the price may face downward pressure, and bearish forces may take the opportunity to intervene.
Further observing the 4-hour chart, Bitcoin's price continues to operate above the MA30 daily average line, which aligns closely with recent market trend analysis, indicating that Bitcoin is in a stable bullish market within a shorter time frame. The MA30 daily average line serves as an important support line, providing a solid price foundation for the bulls. As long as this moving average support holds, the bullish trend is expected to continue, and investors can use it as a key point for bullish defense, leaning towards long positions in their strategy.
2. Ethereum Daily Chart Analysis
The Ethereum daily chart shows a different price movement characteristic. Following a large bearish candle yesterday, Ethereum has entered a weak oscillating correction pattern today. Currently, the price is gradually approaching the MA256 daily average line, which corresponds to a price level of about 3050. This moving average position holds significant reference value in technical analysis; if Ethereum's price receives effective support here and rebounds, it may indicate the end of the short-term adjustment, allowing the bulls to regain dominance and push the price upward. However, if this support level is lost, Ethereum's price will face further downward pressure, targeting the weekly MA30 moving average around 2950. This price area constitutes a critical watershed for the short-term bullish and bearish forces of Ethereum, and its gains or losses will decisively impact Ethereum's short-term price direction.
3. Afternoon Trading Strategy
(1) Bitcoin Trading Strategy
Based on the above technical analysis of Bitcoin, afternoon trading could consider moderately placing short positions in the 92700 - 93300 range. This operation is based on the expectation of a potential short-term price correction, but given that the overall bullish trend has not clearly reversed, it is necessary to cautiously control the position size, preferably using a light position. At the same time, to guard against the risk of price breaking through and rising unexpectedly, set 93600 as the stop-loss level. If the short position successfully enters and the market trend aligns with expectations, the target price can be set in the 91500 - 90300 range to secure corresponding profit space. During the trading process, it is essential to closely monitor the daily MA5/10 moving averages and the 4-hour MA30 moving average's dynamic changes. If the price does not effectively break below these moving average supports during the pullback, be wary of a bullish counterattack and adjust the trading strategy in a timely manner to avoid being overly bearish.
(2) Ethereum Trading Strategy
For Ethereum, in the afternoon, one could attempt to lightly enter short positions in the 3120 - 3160 range. Considering that Ethereum is currently in a weak oscillation and facing a test of key support levels, light position trading helps control potential risks. Set 3190 as the stop-loss level to address the potential upward risk that may arise after breaking through the key resistance area. If the short position is executed smoothly, the target price can be aimed at the 3070 - 3020 range. During the trading period, it is necessary to continuously monitor the support situation of the daily MA256 moving average; if the price shows significant stabilization near this moving average, timely assess whether to adjust the trading direction to prevent trading losses due to misjudging market trends.
In summary, the price movements of Bitcoin and Ethereum are influenced by various technical factors. Investors should fully rely on the results of technical analysis during afternoon trading, combined with reasonable risk control measures, to formulate and flexibly adjust trading strategies to cope with market uncertainties and volatility, achieving steady asset appreciation in cryptocurrency trading.
This article is independently written by the Coin Victory Group. Friends in need of current price strategies and solutions can find the Coin Victory Group online. Recently, the market has been primarily characterized by oscillations, accompanied by intermittent spikes. Therefore, when making trades, remember to control take-profit and stop-loss levels well. In the future, when facing significant market data, the Coin Victory Group will also organize live broadcasts across the internet. Friends who wish to watch can find the Coin Victory Group online and contact me for the link later.
Mainly focused on spot, contracts, BTC/ETH/ETC/LTC/EOS/BSV/ATOM/XRP/BCH/LINK/TRX/DOT, specializing in styles, mobile lock-up strategies around high and low support and resistance short-term fluctuations, medium to long-term trend trades, daily extreme pullbacks, weekly K-top predictions, and monthly head predictions.
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