Analyst Chen Shu: 1.12 Bitcoin and Ethereum stop falling and rebound, focusing on the 9.4 resistance level, looking for breakthrough opportunities.

CN
3 hours ago

Analyst Chen Shu: 1.12 Bitcoin and Ethereum stop falling and rebound, focusing on the 9.4 pressure level and breakthrough opportunities.

From the daily chart of Bitcoin, today’s closing is a bullish candle with the price breaking above the MA5/10 daily moving averages. The key resistance level in the short term is the previous high point of the consolidation at the 9.4 line. The high point of the intraday rebound should focus on this line. The support level on the 4-hour chart is the MA256 daily moving average at the 8.96 line. As long as this line is not broken on a pullback, it will not shift into a one-sided downward trend. The support on the 1-hour chart is the MA256 daily moving average at the 9.1 line.

From the daily chart of Ethereum, it currently has two consecutive small red candles. The support level below is the MA30 daily moving average at the 3030 line. On the 1-hour chart, after the weekend's consolidation adjustment, the price has now risen above the MA256 daily moving average at the 3130 line. If it breaks and holds above, it will continue the consolidation with a bullish bias, testing the upper high points at 3180 and 3300.

Afternoon trading strategy (written at 13:40):

BTC: Long at 9.16, add to long at 9.08 on a pullback, target 9.25/9.35; short at 9.4/9.5 looking for 1-2000 points.

ETH: Long at 3145, add to long at 3105 on a pullback, target 3200/3250; short at 3250/3300 looking for 6-100 points.

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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