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Cryptocurrency Trading Strategy Analysis: Bitcoin and Ethereum Afternoon Operation Ideas
In the current cryptocurrency market, Bitcoin (BTC) and Ethereum (ETH) are the two major currencies, and their price fluctuations and trading strategies have always been the focus of investors. This article will combine the latest market analysis to provide you with a comprehensive afternoon operation idea, helping you grasp market dynamics and formulate reasonable trading strategies.
1. Market Overview and Technical Analysis
Bitcoin (BTC) Market Analysis
From the daily chart, Bitcoin has been forming small doji candlesticks for several days, indicating that the market has established a range of fluctuations between 9.6 and 9.8. Although the price can maintain above the MA5/10-day moving averages, there has been no opportunity for a significant upward movement.
On the 4-hour chart, Bitcoin's price has retraced to the MA30-day moving average, so pay attention to whether this line is lost during the day. Meanwhile, the 1-hour chart has also retraced to the MA256-day moving average, which has been repeatedly mentioned in last week's analysis article as a key level for contention.
Ethereum (ETH) Market Analysis
From the daily chart, Ethereum formed a red doji yesterday. Today's price has slightly broken 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 at 3660; the stability of this support level will have a significant impact on Ethereum's short-term trend.
2. Afternoon Operation Ideas
Bitcoin (BTC) Operation Ideas
BTC: Light long positions near 9.53/9.48, target above 9.7; light short positions near 9.9/9.88, target around 9.6. This strategy is based on Bitcoin's fluctuation pattern in the 9.6-9.8 range and the support of the MA10-day moving average.
Ethereum (ETH) Operation Ideas
ETH: Long positions near 3560/3620, target above 3700; short positions follow Bitcoin's movements. This strategy considers the support level around 3620 for Ethereum and the breakdown of the MA5/10-day moving averages.
3. Medium to Long-term Trend Analysis
Bitcoin (BTC) Medium to Long-term Trend
After rebounding to 9.8, Bitcoin has once again fallen back to the 9.6 level. The daily chart is still maintaining above the MA10-day moving average. Although it has encountered selling pressure and retreated in the short term, the outlook remains bullish in terms of fluctuations.
Ethereum (ETH) Medium to Long-term Trend
Ethereum's daily chart continues to stay above the MA5/10-day moving averages, indicating a continued potential for upward movement. Pay attention to the stability of the MA30-day moving average on the 4-hour chart.
4. Risk Management and Trading Skills
In cryptocurrency trading, risk management is crucial. Here are some basic risk management strategies:
Set stop-loss orders: By setting stop-loss orders, traders can limit potential losses, and these stop-loss orders will automatically exit positions at predetermined loss levels.
Position size and risk-reward ratio: Position size and risk-reward ratio are also important as they help traders determine the financial risk of each trade.
Conclusion
The cryptocurrency market is highly volatile, and price changes are rapid. Therefore, investors need to closely monitor market dynamics, reasonably utilize technical analysis tools, formulate scientific trading strategies, and strictly implement risk management measures. I hope this article provides you with valuable references to help you navigate the cryptocurrency market steadily.
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