Analyst Chen Shu: 1.18 Afternoon Bitcoin and Ethereum Market Strategy
- On January 17, the afternoon article analysis provided long and short strategies for Bitcoin and Ethereum. Bitcoin suggested a long position at 10.03, while Ethereum suggested a long position at 3310. Neither Bitcoin nor Ethereum reached the strategy entry points yesterday and randomly surged higher. Currently, for short-term highs and pullbacks, please see the analysis below.
From the daily chart, Bitcoin closed with a red K-line yesterday, with the price stabilizing above the MA5 daily moving average, indicating a return to a bullish trend in the short term. The short-term resistance level is the previous high point of 10.6, which is a dense trading area during the previous surge and pullback. The 4-hour chart shows that the market has been rising along the MA5/10 daily moving averages for the past two days. Although there is some divergence in the overall rise, it still aims for the 10.6 high point. The 4-hour support focuses on the MA10 daily moving average and the MA30 daily moving average support at the 10.25/10.30 price range.
From the daily chart, Ethereum has been relatively volatile in recent days, with the overall market oscillating around the 3500-3300 range. Yesterday, the market rebounded but faced resistance at the MA60 daily moving average, leading to a pullback. The short-term resistance level to watch is 3530, while the support focuses on the MA10 daily moving average at 3300 and the overlapping MA30/60 daily moving averages at 3280.
Afternoon Trading Strategy (Written at 14:00):
BTC: Light long at 10.3, add to long on pullback at 10.23, target 10.4/10.5; consider short positions above 10.5/10.6.
ETH: Light long at 3300, add to long on rebound at 3260/80, target 3400/3450, short positions follow Bitcoin synchronously.
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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