Analyst Chen Shu: December 30th - Bitcoin and Ethereum: False Breakout, Real Retracement? Pay Attention to Key Resistance Level Testing

Analyst Chen Shu: December 30th - Bitcoin and Ethereum: False Breakout, Real Retreat? Focus on Key Resistance Level Testing. Looking at the daily chart for Bitcoin, yesterday's closing price was a green candlestick with an upper shadow, testing the 30-day moving average (MA30). Although it rallied on volume yesterday, testing the 90,000 resistance level, it quickly retreated to the previous consolidation range. The key short-term resistance level to watch is the dense resistance area around 8.8 on the 1-hour chart. A short position can be considered if the price touches this level, targeting a short-term pullback. Support is seen at the low point of the consolidation around 8.65. Looking at the daily chart for Ethereum, yesterday's closing price also formed a green candlestick with an inverted hammer, failing to break through the MA30 resistance level. The current short-term resistance is seen at the 256-day moving average (MA256) on the 1-hour and 4-hour charts, corresponding to the 2960-3000 price range. Support is seen at the previous consolidation low around 2900. Midday Trading Strategy (Written at 13:30): BTC: Short at 8.8, add to short position on rebound to 8.9, target 8.7/8.6; consider a short-term long position with a small stop loss at 8.65/8.55. ETH: Short at 2960, add to short position on rebound to 3010, target 2900; consider a short-term long position with a small stop loss at 2900/2830. 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 everyone. Welcome to leave comments below for discussion, I will reply to each one.