Analyst Chen Shu: March 4 Afternoon Bitcoin and Ethereum Market Strategy Report, Successful Short Position Yesterday, Continue Short on Today's Rebound
In the article analysis on March 3, a long and short strategy for Bitcoin and Ethereum was provided. Following the previous day's successful long position, yesterday's short position once again successfully predicted significant profits. The short position for Bitcoin was suggested at 9.33, while for Ethereum it was suggested at 2460. The strategy from yesterday yielded profits of 3000/150 points. Congratulations to those who followed the article's operations! Currently, how to operate in the short-term oversold fluctuations is detailed in the following analysis.
From the daily chart of Bitcoin, yesterday's daily candle closed with a large bearish line, completely reversing the gains from the previous day's positive news. The price has once again fallen below the MA5/10-day moving averages. If the decline continues, it may test the daily MA256-day moving average at the 7.8 level. For weekly support, pay attention to the MA30-day moving average at the 8.25 level. The 4-hour chart shows a continuous one-sided decline with no obvious rebound trend, and further downward movement is expected. It is recommended to focus on the 7.8 low point for the 4-hour decline, and to continue shorting after a rebound.
From the daily chart of Ethereum, yesterday also closed with a large bearish line, once again falling below the recent low to the 2000 level. The decline was significant, breaking below the weekly MA256-day moving average at the 2130 level, which is a key support level. The focus now is whether the price can recover above 2130. The 4-hour chart shows that the overall price tested downward along the MA5-day moving average yesterday. Although there was a short-term rebound, the strength was insufficient, and further downward testing is expected.
Afternoon Operation Ideas (Written at: 14:00):
BTC: Light short at 8.48, add to short on rebound at 8.62, target 8.25. If it breaks below 8.25, reduce positions and hold for a target of 7.8; consider long positions around 7.8.
ETH: Light short at 2140, add to short on rebound at 2220, target 2000. If it breaks below, reduce positions and hold for a target of 1850; long positions in sync with Bitcoin.
The daily analysis strategy has a very high win rate! Analysis is not easy, and 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 to each one!
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