Analyst Chen Shu: Midnight Bitcoin and Ethereum Market Strategy on December 3rd - Strategy 2, Long Position Strategy Correctly Bounces Back and Continues to Maintain a Volatile Trend
On December 2nd, the midday analysis provided long positions at 9.62/9.53 for Bitcoin and 3660/3620 for Ethereum. After a daily pullback to 9.5/3580, it stopped falling and rebounded. Currently, the market has rebounded to a high of 9.73/3686. The long position strategy was correct, and those who followed the strategy would have gained. For the current short-term pullback and rebound, please see the analysis below.
From the daily chart of Bitcoin, today's market trend is basically consistent with the analysis in the article. However, the short-term price has pierced through the daily MA10 moving average. Currently, it has rebounded and closed above the MA5/10 moving averages. We need to pay attention to whether it can continue to stay above the MA5/10 moving averages. On the 4-hour chart, today's price fell and pierced through the support of the MA30/60 moving averages but has returned above this line. A V-shaped reversal has formed in the short term, and the 1-hour level is also oscillating around the MA256 moving average. Currently, it has returned above 9.65, so we treat the short-term as a volatile upward trend.
From the daily chart of Ethereum, the price has pulled back and pierced through the daily MA5 moving average (3650). Currently, the price is oscillating and adjusting around the 5-day moving average. We need to pay attention to whether the midnight market can consistently hold above this line. On the 4-hour level, we look to see if it can maintain above the MA30 moving average. Currently, the short-term rebound is facing resistance at the 3680 level. If it breaks through and stabilizes, it will continue to rise to 3730-50.
Midnight Operation Strategy (Written at: 00:30):
BTC: Light long positions near 9.64/9.55, target above 9.7; light short positions at 9.9/9.88, target near 9.6.
ETH: Long positions near 3640/3600/3550, target above 3700; short positions follow Bitcoin synchronously.
Medium to Long-term Trend: Bitcoin is mainly oscillating around 9.65 today. As long as it stays above the MA5/10 moving averages on the daily chart, we continue to view it as a volatile upward trend. Although it is stagnant, it does not mean a short-term downturn. Ethereum is currently maintaining above the MA5/10 moving averages on the daily chart, so we continue to look for a rebound opportunity and wait for a pullback to enter long positions.
The daily analysis strategy has a very high win rate! Analysis is not easy, and I hope everyone can give a free follow, bookmark, like, and comment. Thank you all, and feel free to leave comments below; I will reply to each one!
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