Analyst Chen Shu: 1.22 Afternoon Bitcoin and Ethereum Market Strategy
On January 21, the afternoon article provided trading strategies for Bitcoin and Ethereum. For Bitcoin, the operational idea was in the range of 9.9/10.4, while for Ethereum, it was in the range of 3400/3100. After the market retraced to 100,000 yesterday, it initiated a rebound to the 10.7 line and then retraced again. Currently, how to operate during this short-term high-level adjustment is detailed in the following analysis.
From the daily chart of Bitcoin, yesterday closed with a solid bullish candle, retracing to the MA10 daily moving average before randomly starting to rise. The price has once again broken above the daily MA5 moving average, indicating a bullish trend. However, on the 4-hour level, although the price has slightly retraced again in the short term, it remains bullish as long as it does not break below the MA30 daily moving average at the 10.45 line. The short-term support to focus on is this line, which is also the overlapping support of the MA30/60/120 moving averages on the 1-hour level.
From the daily chart of Ethereum, yesterday closed with a small red K-line, and the range of market fluctuations has once again narrowed. Currently, the daily level fluctuations are between the MA60 and MA120/256 moving averages, specifically in the range of 3530-3100. Until this range is broken, the overall market can still be treated as a fluctuation.
Afternoon Trading Ideas (Written at: 14:00):
BTC: Light long at 10.45, add to long on a pullback to 10.38, target 10.6/10.7; consider entering short near 110,000.
ETH: Temporarily treat as fluctuating in the range of 3380/3480 to 3200/3100.
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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