Analyst Chen Shu: 2.7 Afternoon Bitcoin and Ethereum Market Strategy
Yesterday's short positions made significant profits, continue to short today.
In the afternoon article on February 6, a short strategy for Bitcoin and Ethereum was provided. Bitcoin suggested a short position at 9.87, while Ethereum suggested a short at 2920. The Ethereum short did not reach the entry point, but the Bitcoin short perfectly predicted the target point with a maximum profit of 3000 points. Congratulations to those who followed the strategy. For the current short-term weak pullback, please see the analysis below.
From the daily chart, Bitcoin closed with a long upper shadow green doji yesterday. The price began to face downward pressure after reaching the daily MA60 moving average. The overall trend is still under pressure from the resistance level of 9.9/10. Looking at the 4-hour chart, the price rebounded to the MA256 moving average yesterday and then began to pull back. The overall market situation is consistent with yesterday's article analysis. Currently, the price continues to operate below the MA256 moving average. Today, continue to pay attention to the breakthrough and stabilization of this resistance level. In the short term, focus on the breakthrough and stabilization of the MA120 moving average at the 1-hour level, which is the 9.8 resistance level.
From the daily chart, Ethereum continued to pull back yesterday, with the overall market under pressure from the daily MA5 moving average. In the short term, pay attention to the daily MA5 moving average as the resistance level. Before breaking and stabilizing above the MA5 moving average at 2760, continue to maintain a bearish outlook. On the 4-hour chart, pay attention to the breakthrough of the MA30 moving average resistance level at 2770. The strategy remains to short on rebounds.
Afternoon Trading Strategy (Written at: 14:00):
BTC: Short lightly at 9.78, add to the short on a rebound to 9.9, target at 9.7/9.6; no consideration for long positions for now.
ETH: Short lightly at 2750, add to the short on a rebound to 2830, target at 2700/2600.
The daily analysis strategy has a very high win rate! Analysis is not easy, I hope everyone can give a free follow, bookmark, like, and comment. Thank you all, and feel free to leave comments below for discussion; I will reply to each one!
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