Analyst Chen Shu: 1.23 Bitcoin and Ethereum Market Strategy * No. 1, Continuous Pullback Focus on 1-Hour MA256 Daily Average Line
On January 22, the midday article analysis provided Bitcoin and Ethereum long and short strategies. For Bitcoin, a long operation idea was given at 10.45/10.38, while for Ethereum, an operation idea was provided in the 3380/3200 range. Yesterday, the market continuously declined, currently dropping to the 10.2 line. Please see the following analysis for how to operate in this ongoing short-term decline.
From the daily chart of Bitcoin, yesterday closed with a small green K-line, with the price retracing to the daily MA5 average line. Today, it continues to pull back to the MA10 daily average line at the 10.2 level. If it loses the 10.2 line, it may continue to pull back and test the support at the daily MA30/60 average lines at the 9.8 level. Looking at the 4-hour chart, the current price has continuously closed in the red down to the MA60 average line at the 10.15 level, with support below at 9.9/9.85. Meanwhile, on the 1-hour level, it is about to retrace to the MA256 daily average line at the 10.1 level, so pay attention to the strength of this support line.
From the daily chart of Ethereum, yesterday's market continued to be suppressed by the MA30 average line at the 3360 level. The overall market is relatively weak and continues to be pressured by the MA30 average line, with a high possibility of retracing to the MA120/256 average lines at the 3100 level. The resistance levels can be referenced at 3280/3360.
Midday Operation Ideas (Written at: 13:00):
BTC: Light short at 10.3, add to short on rebound at 10.4, target 10.1/100,000; below 9.9/9.8, participate in rebound long positions.
ETH: Light short at 3230, add to short on rebound at 3300, target 3100/3000; below 3100 and below 3000, you can try to participate in rebound long positions.
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 for discussion; I will reply one by one!
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