Analyst Chen Shu: Bitcoin and Ethereum's decline continues on November 23; watch for the strength of any potential rebound.

Analyst Chen Shu: November 23 - Bitcoin and Ethereum's decline continues; focus on the strength of the rebound. Looking at the daily chart for Bitcoin, Friday saw another sharp drop to a low of 80,000 before finding support. The daily chart should focus on whether it can break through the 5-day moving average (MA5). On the 4-hour chart, there are signs of a short-term bottoming out and a potential rebound, but the trading volume over the weekend was not significant, so the continuation of the rebound needs to be monitored. The resistance level to watch is the 30-day moving average (MA30), while the support level is around 8.4. Looking at the daily chart for Ethereum, as previously analyzed, it broke below the 256-day moving average (MA256) and continued its downtrend. The daily resistance level remains the 5-day moving average (MA5). On the 4-hour chart, focus on the 30-day moving average (MA30) around 2900. A break above this level would suggest a temporary bottom, while continued resistance at this level would indicate further weakness. Midday Trading Strategy (Written at 14:10): BTC: Buy at 8.48, add to long position on pullback to 8.35, target 8.6/8.8; Sell at 8.75/8.9 for a 1-2000 point pullback. ETH: Buy at 2760, add to long position on pullback to 2700, target 2900; Sell at 2880/2980 for a 6-100 point pullback. Daily analysis strategies have a very high win rate! Analysis is not easy, 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.