Analyst Chen Shu: Bitcoin and Ethereum market reversal continuously rises at 12.4, focus on the pullback at 3170
Looking at Bitcoin from the daily chart, the price has risen for two consecutive days and currently stands firm at the MA5/10-day moving averages. The upper pressure level currently focuses on the breakthrough stability of the MA30-day moving average at 9.4. From the hourly level, the short-term is steadily moving up along the MA30-day moving average at 9.3. The short-term support focuses on whether the hourly MA30-day moving average is lost. If it breaks through the daily MA30-day moving average at 9.4, it may continue the upward rebound.
Looking at Ethereum from the daily chart, it has closed two large bullish candles consecutively, with the price rebounding to the daily MA256-day moving average. The current price remains around 3170, focusing on whether the subsequent pullback at 3170 holds. If it holds, the short-term will establish 3170 as an effective support level, transforming from resistance to support, which will initiate a new round of upward market. The pressure level focuses on the 4-hour MA256-day moving average at 3360.
Afternoon operation strategy (writing time: 13:10):
BTC: 9.2 long, add more on pullback to 9.1, target 9.35/9.45; above 9.45/9.55 short look at 1-3000 points
ETH: 3160 long, add more on pullback to 3100, target 3250/3300; above 3300/3360 short look at 6-100 points
Daily analysis strategy has a high win rate! Analysis is not easy, I hope everyone can give a free follow, favorite, like, and comment, thank you all, and welcome everyone to leave messages below for discussion; I will reply one by one $BTC
