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Analyst Chen Shu: On August 10, BTC tested and broke the resistance level. Midday analysis strategy for Bitcoin and Ethereum market.
Yesterday's article analysis provided a long position for Bitcoin at 11.7/11.66 and for Ether at 4170/4130. The market offered entry opportunities and began to rebound upward, with long positions capturing a profit of 2000/150 points. Congratulations to those who followed the trades.
Bitcoin, from the daily chart perspective, has successfully broken through the upper trend line at the 11.67 high point after today's rise. If it can hold this level during a pullback, it will have successfully broken through the daily level descending channel, shifting to a bullish trend targeting the 120,000 high point. Currently, the 4-hour chart shows a strong bullish candle; if it pulls back without breaking the 11.67 level, it can continue to go long. The weekly resistance level is at the 120,000 mark.
From the daily chart of Ethereum, after four consecutive bullish days, the bulls are slightly fatigued today. The daily line currently shows a double top at the 4330 level. If the daily line fails to close in the green and continue the upward attack, it may welcome a short-term pullback correction. The initial support for the pullback to watch is the 4000 USD level. Looking at the smaller time frame of 4 hours, the current price has retraced to the MA5 daily moving average at the 4230 level for a consolidation adjustment. The lower support to focus on is the MA10 daily moving average at the 4160 level. The key point is to pay attention to how today's daily line closes.
Midday trading strategy (written at: 15:00):
BTC: 11.68 long, pullback to 11.62 to add long, target 11.8/11.9
ETH: 4250 short, target 4160, below 4160 long look at 4230 (short-term advice is to treat it as range trading and wait for a breakout)
The daily analysis strategy has a high win rate! Analysis is not easy, I hope everyone can give 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 #Gate & WLFI USD1 积分计划# #特朗普允许401(k)投资加密货币#