Analyst Chen Shu: Bitcoin and Ethereum experienced volatile price movements on March 1st; trading should initially be approached as a period of consolidation.

Analyst Chen Shu: Bitcoin and Ethereum experienced volatile trading on March 1st. The strategy should initially be to view the market as range-bound. Looking at the daily chart for Bitcoin, yesterday's price action saw a rapid drop followed by a recovery, resulting in a red candlestick with a lower shadow. Overall, the market is still consolidating around the 5/10-day moving average (MA5/MA10). The short-term resistance level to watch is the 30-day moving average (MA30) at 6.9. On the 4-hour chart, the short-term resistance remains at the 120-day moving average (MA120) at 6.75. Until this level is broken and held, the market should be viewed as range-bound. Additionally, the 256-day moving average (MA256) at 6.65 should be monitored on the 1-hour chart. It is expected that the market will continue to consolidate around 6.65 in the short term. From the daily chart, Ethereum closed with a red candlestick with a lower shadow yesterday, and today's rebound continued, testing the resistance level of the 30-day moving average (MA30) at 2035. In the short term, attention should be paid to whether it breaks through 2035. On the 4-hour chart, it has currently risen above the 120-day moving average (MA120) at 1970. If it can continue to hold above this level, it may continue its rebound and test the 2300 level. On the 1-hour chart, watch the 256-day moving average (MA256) at 1950. Midday trading strategy (written at 17:40): BTC: Buy at 6.55, add to the position on a pullback to 6.45, target 6.75/6.85; sell at 6.85/6.95 with a target of 2000 points. ETH: Buy at 1930, add to the position on a pullback to 1860, target 2000/2050; sell at 2050/2100 with a target of 100 points. Daily analysis strategies have a very high win rate! Analysis is hard work, so I hope you can give me a free follow, save, like, and comment. Thank you! Feel free to leave a comment below and I will reply to each one.