Analyst Chen Shu: 9.30 bottomed out and rebounded, pay attention to the strength of the retracement, Bitcoin and Ethereum trend analysis
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Analyst Chen Shu: Bitcoin rebounded after a bottoming out on September 30th, but the strength of the pullback should be monitored. Bitcoin and Ethereum Trend Analysis: Bitcoin, after two consecutive days of positive closes, is now trading at 11.40. Above resistance is the 11.55-11.60 range. On the 4-hour chart, Bitcoin saw a short-term surge and then a pullback, stalling at 11.38. This is the 4-hour MA120-day moving average. Focus on gains and losses at this level. On the 1-hour chart, the price broke through the MA256-day moving average and entered a sideways correction at a high level. A short-term pullback is expected, with support at 11.35/11.23. Ethereum, on the daily chart, has rebounded continuously and is currently trading at 4200. Above resistance is the MA30/60 moving averages at 4300/4340. Consider shorting on a first breakout, anticipating a pullback. On the 1-hour chart, the price broke through the MA256-day moving average in the short term, followed by a slight pullback. Support is initially focused on the MA256-day moving average at 4180. Midday Trading Ideas (Written at 15:00): BTC: Buy at 11.32, add to long positions on a pullback at 11.23, target 11.4/11.5; short at 11.55/11.65, expect a 1-2000 point pullback. ETH: Buy at 4130, add to long positions on a pullback at 4070, target 4200/4300; short at 4300/4400, expect a 6-100 point pullback. Daily analysis strategy has a very high win rate! Analysis is not easy, I hope everyone will give me a free follow, favorite, like, and comment. Thank you, and I welcome everyone to leave a message below to discuss, and I will reply one by one.
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