Analyst Chen Shu: 5.23 Afternoon Bitcoin and Ethereum Market Analysis Strategy, Focus on Pullback Strength After Price Consolidation at High Levels

From the daily chart, Bitcoin's price has once again broken through new highs. The short-term support is first looking at the MA5/10 day moving averages, which are 10.88/10.65. On the 4-hour chart, the price is consolidating and adjusting above 110,000, with a pullback to the MA10 day moving average. Pay attention to whether the price breaks below the 10.07 support point. The pressure level on the 1-hour chart is at the 1-hour MA30 day moving average around 11.1, focusing on the pullback strength in the short term.

From the daily chart of Ethereum, the price has broken through the key pressure level of the daily MA256 day moving average at 2660. Pay attention to whether the price can stabilize above 2660. If it can hold above this level, it will officially start a short-term bullish trend. The key support to watch is 2660. If it pulls back and breaks below 2660, it will fall into a pullback adjustment phase in the short term.

Afternoon Operation Thoughts (Written at: 14:00):

BTC: Above 110,000, add long at 10.9, target 11.1/11.2; short at 11.12, short on rebound at 11.11, add short at 11.16, target 110,000/10.9

ETH: Long at 2630, add long at 2570, target 2680/2720; consider short positions at 2700/2730

The daily analysis strategy has a very high win rate! Analysis is not easy, I hope everyone can give a free follow, bookmark, like, and comment. Thank you all, and feel free to leave comments below for discussion; I will reply to each one!

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