Analyst Chen Shu: 3.16 Afternoon Bitcoin and Ethereum Market Strategy Report, Focus on Whether the Daily Line Can Hold the 8.35 Support

Strategy Review: On March 14, the analysis provided a short strategy for Bitcoin and Ethereum. The short idea for Bitcoin was at 8.47, while for Ethereum it was at 1930/1950. Although there was a slight pullback over the weekend, the momentum was not strong. For intraday short trades, it is recommended to exit at breakeven around 8.4/1920 and look for other trading points.

Market Analysis: From the daily chart, Bitcoin has currently risen above the MA5/10 daily moving averages after the weekend's fluctuations. The next resistance level is the MA30 daily moving average at around 8.9. The key short-term breakout levels are at 8.53/8.57. If this level is broken, it will further rebound upwards for testing. On the hourly level, we will look for the breakout and stabilization of the MA256 daily moving average at 8.45. Intraday trading can be treated as a range.

From the daily chart of Ethereum, the price is also above the MA5 daily moving average and is about to test the MA10 daily moving average at the 1970 resistance level. Pay attention to the breakout situation at this resistance level. On the 4-hour level, the price is currently maintaining above the MA5/10/30 daily moving averages, oscillating and adjusting within the 1830-1930 range. The operation should also be treated as a range oscillation.

Afternoon Trading Ideas (Written at 15:00):

BTC: Long at 8.3, stop loss at 600 points, target at 8.5/8.6; Short at 8.58, add to short on a rebound at 8.65, stop loss at 600 points after the average price of the added position, target at around 8.4/8.3 (treat as a range of 8.3-8.6).

ETH: Long at 1905, stop loss at 35 points, target at 1950/2000; Short at 1990, add to short on a rebound at 2030, stop loss at 30 points after the average price of the added position, target at around 1950/1900.

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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