Analyst Chen Shu: Bitcoin and Ethereum's downtrend continues on February 11th; watch for a breakout opportunity.

Analyst Chen Shu: 2.11 Bitcoin and Ethereum Continue Their Downtrend; Watch for a Breakout Opportunity. Looking at the daily chart for Bitcoin, the price has fallen again, continuing to be suppressed by the 10-day moving average (MA10). The short-term rebound is weak, and further declines are expected. On the 4-hour chart, the price is consolidating within the 6.7-6.9 range. The key resistance level to watch is whether it can hold above the 30-day moving average (MA30) around 6.95. Rebounds are consistently suppressed by the dense moving averages above, around 6.85-6.95. A short position could be considered with a small position size if this level is reached, anticipating a pullback. Treat this as range-bound trading and await a breakout direction. Looking at the daily chart for Ethereum, the price has closed with two consecutive green candlesticks, suppressed by the 10-day moving average (MA10) around 2080. On the 4-hour chart, it is also suppressed by the 30-day moving average (MA30) around 2050. The key resistance level to watch for a rebound is around 2000-2050. A short position could be considered with a small position size if this level is reached, anticipating a pullback. Support is around 1900. Midday Trading Strategy (Written at 14:10): BTC: Short at 6.85, add to short position on a rebound to 6.95, target 6.7/6.6; Long at 6.55/6.45 for a rebound to 2000 points. ETH: Short at 2010, add to short position on a rebound to 2060, target 1960/1900; Long at 1900/1850 for a rebound of about 100 points. 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.