Analyst Chen Shu: Bitcoin and Ethereum stabilized at the bottom and started a rebound on November 17th? Watch for a breakout of the 9.66 resistance level.

Analyst Chen Shu: November 17th - Bitcoin and Ethereum Stabilize at the Bottom and Start a Rebound? Watch for a Breakout of the 9.66 Resistance. Looking at the daily chart for Bitcoin, after consolidating at low levels over the weekend, it has temporarily stopped falling around 9.3. For a rebound, pay attention to whether it breaks through the 5-day moving average (MA5). On the 1-hour chart, after rebounding to a high of 9.66 yesterday, it fell back again. The 9.66 level is also a previous short-term rebound high and resistance level. Long positions can be considered after a breakout and stabilization above 9.66. Currently, in the short term, it's still possible to try to find opportunities to go long and expect a rebound. Looking at the daily chart for Ethereum, the daily trend is basically consistent with the analysis in previous articles. The 256-day moving average (MA256) at 3100 has successfully held as the current short-term support level. Before a complete break below this level, the focus should be on long positions. On the 1-hour chart, pay attention to whether it breaks and stabilizes above the previous resistance level of 3250. If it breaks and stabilizes, consider going long. Midday Trading Strategy (Written at 13:30): BTC: Buy at the current price of 9.48, add to the long position on a pullback to 9.38, target 9.6/9.7; consider shorting above 9.75. ETH: Buy at the current price of 3180, add to the long position on a pullback to 3100, target 3250/3400; consider shorting around 3300/3400. Daily analysis strategies have a very high win rate! Analysis is hard work, so please give a free follow, save, like, and comment. Thank you! Welcome to leave comments below for discussion; I will reply to each one.