Analyst Chen Shu: The one-sided trend in Bitcoin and Ethereum failed to materialize on December 31st; continued range-bound consolidation is expected.

Analyst Chen Shu: On December 31st, Bitcoin and Ethereum failed to establish a clear trend and are expected to continue range-bound consolidation. Looking at the daily chart for Bitcoin, the short-term price is still suppressed by the 30-day moving average (MA30) at 8.9. Intraday focus should be on whether it can break through and hold above 8.9. Until a breakout occurs, the market is expected to remain in a range-bound pattern. On the 1-hour chart, it has broken through the 256-day moving average (MA256) at 8.8. Watch for a pullback to this level to see if it holds. The resistance level is the 4-hour MA256 at 8.9, which is also a daily resistance level. Looking at the daily chart for Ethereum, the volatility is gradually decreasing. The 30-day moving average (MA30) at 3030 remains a key short-term resistance level. On the 1-hour chart, the short-term price is holding above the 256-day moving average (MA256) at 2960. Watch for the sustainability of this consolidation and the resistance at the 4-hour MA256 at 3000. Midday Trading Strategy (Written at 13:30): BTC: Short at 8.9, add to short position on a rebound to 9.03, target 8.8/8.7; consider a short-term long position with a small stop loss at 8.78/8.65. ETH: Short at 2995, add to short position on a rebound to 3050, target 2950/2920; consider a short-term long position with a small stop loss at 2930/2850. 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.