Analyst Chen Shu: 12.22 Afternoon Bitcoin and Ethereum Market Strategy
On December 21, the midday article analysis suggested a long position at the current prices of 9.87/3520, with the market rebounding to a high of 9.95/3550. It then entered a corrective phase. Here’s the analysis on how to operate during the current short-term pullback.
From the daily chart, Bitcoin formed a short upper shadow doji yesterday, with the price failing to hold above the MA30 daily moving average after a spike. Today, it continues to pull back. If it cannot stay above this line in the future, the short-term trend will continue to show weakness and volatility. On the 4-hour chart, after rebounding to the 9.95 level yesterday, the price has now retraced to the MA256 daily moving average at around 9.6. Pay attention to the support at this line on the daily chart; if it breaks below, we will continue to see a corrective pullback.
From the daily chart, Ethereum rebounded to the MA5 daily moving average yesterday and then entered a corrective phase again. The price is currently touching the MA60 daily moving average at 3270. Watch for the effectiveness of the support at this line during the pullback. On the 4-hour chart, the short-term resistance is at the MA256 daily moving average at around 3530, where yesterday's rebound occurred.
Afternoon Trading Strategy (Written at 15:30):
BTC: Short at 9.75 with a light position, add to the short at 9.85, target around 9.6; go long at 9.6 with a stop loss, target 1-2000 points.
ETH: Short at 3360 with a light position, add to the short at 3420, target around 3270; go long at 3270/3220 with a stop loss, target 1-150 points.
Medium to Long-term Trend: For Bitcoin, pay attention to whether the price can return above the MA30 daily moving average at 9.85. If it holds, we will see weak volatility; otherwise, a significant corrective phase may follow. For Ethereum, the short-term pivot point is the MA256 daily moving average at around 3530.
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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