Analyst Chen Shu: 11.24 Afternoon Bitcoin and Ethereum Market Strategy *No. 1, Weekend Narrow Fluctuations Focus on Evening Market Direction Selection
On November 23rd, the afternoon analysis provided a long position strategy. Bitcoin suggested long positions at 9.85/9.75, and Ethereum suggested long positions at 3330/3300. The weekend market showed little volatility, with Ethereum experiencing a corrective rally. Currently, for short-term narrow fluctuations, please see the analysis below.
From the daily chart of Bitcoin, yesterday, Saturday, closed with a small bearish candle, retracing to touch the daily MA5. The price fluctuated narrowly around the 9.8 level during the day, focusing on the gains and losses of the daily MA5 moving average. On the 4-hour chart, today's price briefly dipped below the MA5/10 moving average at the 9.8-9.83 price range but has regained that level. The bullish trend still exists, and it is recommended to continue buying on dips. Pay attention to the support at the 4-hour MA30 moving average at the 9.67 level; if it retraces to this line, it would be a good opportunity to buy.
From the daily chart of Ethereum, yesterday's corrective rally closed with a long upper shadow red candlestick, with the price consistently above the daily MA5. After testing and breaking through the previous high point of 3400, it experienced a slight pullback. On the 4-hour chart, the overall market remains above the MA5/10 moving averages. Although it hasn't shown a one-sided upward trend, the weekend's corrective rally tested the 3500 level. As long as it doesn't break below 3400 during the pullback, the upward trend will continue.
Afternoon Trading Strategy (Written at: 16:30):
BTC: Light long positions near 9.75, add to long positions on a pullback to 9.68, target at 9.85;
ETH: Light long positions near 3405, add to long positions on a pullback to 3370, target at 3450/3500.
Note: Bitcoin showed almost no volatility over the weekend, but it remains a bullish market. Wait for pullback opportunities to go long. Ethereum welcomed a corrective rally over the weekend, so pay attention to the market fluctuations on Sunday evening, treating it as a bullish opportunity.
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