Analyst Chen Shu: 11.23 Bitcoin and Ethereum continue to decline, pay attention to the continuation of the rebound strength.
From the daily chart of Bitcoin, the market fell sharply again on Friday to a low point of 80,000, where it stopped falling. On the daily chart, we can pay attention to whether it can break through the 5-day moving average (MA5) later. Looking at the 4-hour level, there are signs of a short-term stop and a rise, but the trading volume over the weekend has not increased significantly. We need to pay attention to the continuation of the subsequent rebound, with the pressure level focusing on breaking through the 30-day moving average (MA30), while the support level can be focused on the 8.4 line.
From the daily chart of Ethereum, as previously analyzed, it broke below the 256-day moving average (MA256) and began to extend the bearish trend. The daily pressure level still needs to focus on breaking through the 5-day moving average (MA5). At the 4-hour level, we pay attention to the breakthrough of the 30-day moving average (MA30) at the 2900 line. If it breaks through, we consider stopping the fall temporarily; otherwise, if it continues to be suppressed by this line, we will continue to see weakness.
Afternoon operation ideas (writing time: 14:10):
BTC: Long at 8.48, add to positions at 8.35, target 8.6/8.8; upper level 8.75/8.9 short for a 1-2000 point pullback.
ETH: Long at 2760, add to positions at 2700, target 2900; upper level 2880/2980 short for a 6-100 point pullback.
The daily analysis strategy has an extremely high win rate! Analysis is not easy, and I hope everyone can click a free follow, save, like, and comment. Thank you all, and feel free to leave comments below for discussion, I will reply one by one $BTC
