Analyst Chen Shu: December 2nd Bitcoin and Ethereum Market Strategy

On December 1st, the analysis provided long positions at 9.58/9.5 for Bitcoin and 3660/3600 for Ethereum. The long positions did not retrace to the strategy entry points, with the market rebounding to a high of 9.8/3766. The long position strategy was correct. Currently, for short-term operations on the pullback after the rise, please see the analysis below.

From the daily chart of Bitcoin, it shows several consecutive days of small cross star candlesticks. Although the price can maintain above the MA5/10 day moving averages, there has not been an opportunity for a significant upward movement. The price has formed a range-bound pattern between 9.6 and 9.8, focusing on the gain or loss at the daily MA10, which is 9.6. On the 4-hour chart, the last 4-hour candlestick formed an upper shadow to a hanging man candlestick, with the price retracing to the MA30 day moving average. Pay attention to the loss of this line during the day. At the same time, the 1-hour chart also retraced to the MA256 day moving average, which has been repeatedly mentioned in last week's analysis articles as a key level for contention.

From the daily chart of Ethereum, yesterday closed with a red cross star. Today's price briefly broke the new high but is currently stabilizing above the MA5 day moving average. However, on the 4-hour level, the price has already fallen below the MA5/10 day moving averages and is about to retrace to the MA30 day moving average. The daily chart should first focus on the support and loss at 3660.

Afternoon Operation Strategy (Written at: 13:00):

BTC: Light long positions near 9.62/9.53, target above 9.7; light short positions at 9.9/9.88, target near 9.6.

ETH: Long positions near 3660/3620, target above 3700; short positions follow Bitcoin synchronously.

Medium to Long-term Trend: After Bitcoin rebounded to 9.8, it fell back to the 9.6 line. The daily chart is still above the MA10 day moving average. Although it is currently facing selling pressure and a pullback, the outlook remains slightly bullish. Ethereum's daily chart continues to stay above the MA5/10 day moving averages, so we continue to look for a catch-up rally, focusing on the gain or loss at the 4-hour MA30 day moving average.

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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