Analyst Chen Shu: March 21 Afternoon Bitcoin and Ethereum Market Strategy Report, Focus on Breaking Through the 8.5 Resistance Level During the Rebound

Strategy Review: Yesterday's afternoon strategy suggested going long on Bitcoin at 8.45/8.35 and Ethereum at 1980/1950. After entering long positions, there was a slight rebound to around 8.5/2000, resulting in small profits.

From the daily chart, Bitcoin closed with a solid green candlestick yesterday, with the price touching the MA5/10-day moving averages. In the short term, there is a clear resistance level at the MA30-day moving average around 8.7; on the 4-hour chart, the short-term resistance level is the MA120-day moving average at 8.5. If it cannot break and hold above this level during the day, it will likely return to a weak consolidation. If it breaks and holds above, it will test the 8.7 resistance level. The suggested trading strategy is to go short first and then long.

From the daily chart, Ethereum also closed with a green candlestick yesterday, and the price is currently oscillating above the MA5/10-day moving averages. As the oscillation decreases, there is a clear resistance level at 2050 on the 4-hour chart, while support is focused on the 1950/1920 levels. The trend is relatively weak, and trading should still be treated as weak consolidation.

Afternoon Trading Thoughts (Written at: 14:00):

BTC: Short at 8.5, target at 8.35/8.3; Long at 8.3/8.2, target at 8.4/8.5

ETH: Light short at 2000, target at 1950/1920; Consider going long at the 1920/1900 levels

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; I will reply to each one!

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