Analyst Chen Shu: 3.2 Afternoon Bitcoin and Ethereum Market Strategy Report, the market continues to fluctuate within a narrow range, first looking for a rebound to go long.
In the afternoon article on March 1, a long and short strategy for Bitcoin and Ethereum was provided. Bitcoin suggested a long position at 8.5, while Ethereum suggested long positions at 2235/2200. The market provided entry points for small profits on long positions. Currently, for short-term fluctuations and adjustments, please see the analysis below.
From the daily chart of Bitcoin, yesterday's daily line closed with a small red K-line, and the price crossed above the MA5 daily moving average. Today's price is currently maintaining above the MA5 daily moving average, focusing on whether it can continue to hold above the MA5 daily moving average and test the MA10 daily moving average upwards. On the 4-hour chart, after yesterday's market fluctuation and adjustment, the price has currently broken and stabilized above the MA5/10/30 daily moving averages. We are watching whether it can continue to hold above this line today, specifically above 8.55. The 1-hour level has also currently broken above the MA120 daily moving average, with the next resistance level at the MA256 daily moving average around 9.1.
From the daily chart of Ethereum, yesterday once again closed with a green doji K-line. If it stops falling around 2200, it will form a short-term bottom. The overall rebound strength is relatively small, focusing on the resistance of the daily MA5/10 daily moving averages at 2260/2450. On the 4-hour chart, the short-term resistance level is at the MA30 daily moving average at 2300. If it breaks and stabilizes above 2300 in the future, it will rebound towards 2500.
Afternoon Operation Ideas (Written at: 15:30):
BTC: Current price 8.55, light long position, add to long at a pullback to 8.4, target at 9.1/9.0; consider a light short position at 9.2/9.1 to look for a pullback.
ETH: Current price 2210, light long position, add to long at a pullback to 2180, target at 2300/2450;
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 one by one!
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