Analyst Chen Shu: Is the 12.11 Bitcoin Ethereum false breakout a real pullback? Focus on the key support levels of the pullback
From the daily chart, Bitcoin has failed to break the 9.45 high point on two consecutive occasions and has started to pull back. The current price has lost support at various daily moving averages, focusing on the 4-hour MA120 line at 8.95 for potential support or loss. If this level is lost, it will further pull back down in the short term. From the 1-hour perspective, the short-term has currently broken below the MA256 line at 9.05, which can be viewed as a dividing line for bulls and bears in the short term, and it is expected to oscillate around this level for contention.
From the daily chart, Ethereum has started to pull back after reaching the MA60 line and has now pulled back to the daily MA256 line at 3200 for support. Pay attention to the outcome at this level, which can be viewed as a dividing line for bulls and bears in the short term. From the 4-hour perspective, it has again broken below the MA256 line at 3220. If this level is lost, the next support to watch below is the 1-hour MA256 line at 3080.
Afternoon operation strategy (written at: 13:00):
BTC: Buy at 8.95, add position at 8.8, target 9.1/9.2; for the upper levels of 9.1/9.2, look for a 1-2000 point correction
ETH: Buy at 3155, add position at 3080, target 3200/3250; for the upper levels of 3260/3350, look for a 6-100 point correction
Daily analysis strategy has an extremely high win rate! Analysis is not easy, I hope everyone can click to follow, bookmark, like, and comment for free. Thank you, and feel free to leave comments below. I will reply one by one $BTC
