Analyst Chen Shu: Bitcoin and Ethereum's downtrend continues unabated, breaking through key support levels; short-term focus should be on the strength of any rebound.

Analyst Chen Shu: 11.21 Bitcoin and Ethereum's downtrend continues unabated, breaking through key levels. Short-term focus should be on the strength of any rebound. Looking at the daily chart for Bitcoin, yesterday's large bearish candle broke through previous lows, and it remains unable to break and hold above the 5-day moving average (MA5). On the 4-hour chart, short-term rebounds have consistently failed to break and hold above the 30-day moving average (MA30), which can be treated as a resistance level. Currently, the short-term downtrend has temporarily stopped around 8.5. Shorting opportunities on rebounds can be considered at the highs of 8.9/9.2, with further support expected below 8.5. Looking at the daily chart for Ethereum, the daily chart has essentially confirmed a break below the 256-day moving average (MA256), indicating a potential next phase of decline. On the weekly chart, it has broken below the 120-day moving average (MA120) around 2850, with the next support level at the 256-day moving average (MA256) around 2530. On the 4-hour chart, it is also continuously suppressed by the 30-day moving average (MA30). The focus should be on whether any rebounds can break and hold above this level; failure to do so suggests continued weakness. Midday Trading Strategy (Written at 13:40): BTC: Short at 8.8, add to short position on rebounds to 8.9/9.1, target 8.7/8.5; consider long positions at 8.35/8.25. ETH: Short at 2860, add to short position on rebounds to 2930/3000, target 2800/2700; consider long positions at 2700/2600. 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.