Analyst Chen Shu: Bitcoin and Ethereum short positions made significant profits yesterday, focus on the support and loss at 6.75 over the weekend.

CN
5 hours ago

Analyst Chen Shu: 3.6 Bitcoin and Ethereum had significant gains on short positions yesterday; over the weekend, pay attention to the support and loss at 6.75.


From the daily chart of Bitcoin, it shows two consecutive daily declines, with the price retracing to the MA30 daily average line at 6.8. Pay attention to the situation of this line of support; if it falls, it will continue to decline in the short term, while if it holds, the short term will maintain a volatility pattern. On the 1/4 hour level, pay attention to short term support around 6.75. The MA120 daily average line below the 4-hour chart is currently the short-term support level. Focus on the loss and gain at this line, which is also the MA256 daily average line support at the 1-hour level. The outlook for the future is anticipated to test the low-point support downward again.

From the daily chart of Ethereum, it also retraces to near the MA30 daily average line. Pay attention to whether the price can fluctuate around $2000 and thus hold this line of support. Currently, on the 1-hour level, it has lost the MA256 daily average line at $2000. If it continues to operate below $2000, the short term will return to a downward trend.

Midday operation ideas (writing time: 12:50):

BTC: The fluctuations are small over the weekend, initially fluctuating in the 6.85-6.75 range, engaging in high selling and low buying, with a positive outlook on bearish direction in the short term.

ETH: Operate in the range of 1960-1990 with high selling and low buying, mainly focusing on short positions as it rebounds.

Daily analysis strategy has a very high win rate! Analysis is not easy; I hope everyone will click for a free follow, collection, like, and comment. Thank you all; feel free to leave comments below for discussion; I will reply one by one.

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