Analyst Chen Shu: Bitcoin and Ethereum have bottomed out and stabilized at 11.2, are they about to rebound upwards?

Analyst Chen Shu: Bitcoin and Ethereum stabilized at the bottom on November 2nd, poised for a rebound? Looking at the daily chart for Bitcoin, after three consecutive days of decline, the price has stabilized above the 5-day moving average (MA5), indicating a relatively stable bottom and a slowing of the downward momentum. The key short-term resistance level to watch is the 11.12-15 price range. A break above this range would likely lead to a rebound towards the 11.3-11.45 resistance level. Conversely, if the price continues to be suppressed by the 11.12-15 range and fails to break through, it will likely remain in a weak consolidation. On the 1-hour chart, watch for a break above the 256-day moving average (MA256) at 11.12. A break and hold above this level could warrant a long position. Looking at the daily chart for Ethereum, the continued rebound is focused on whether it can break and hold above the 10-day moving average (MA10) at 3950. A break above this level would likely lead to a test of the 4050 resistance level. On the 1-hour chart, the short-term decline has essentially stopped, with the key resistance level to watch being the 256-day moving average (MA256) at 3950. A break and hold above this level would suggest further rebound. Short-term support is around 3850. Midday Trading Strategy (Written at 15:00): BTC: Buy at 11.02, add to long position on pullback to 10.92, target 11.15/11.3; Sell at 11.3/11.4 for a 1-2000 point pullback. ETH: Buy at 3880, add to long position on pullback to 3830, target 3950/4000; Sell near 4050 for a 6-100 point pullback. Daily analysis strategies have a very high win rate! Analysis is not easy, so please give a free follow, save, like, and comment. Thank you! Welcome to leave comments below for discussion; I will reply to each one.