Analyst Chen Shu: Bitcoin and Ethereum prices reversed course and continued to rise on December 4th. Watch for a pullback to 3170 where it might hold.

Analyst Chen Shu: Bitcoin and Ethereum prices reversed course and continued to rise on December 4th. Watch for a pullback to 3170. Looking at the daily chart for Bitcoin, after two consecutive days of gains, the price has stabilized above the 5-day and 10-day moving averages. The current resistance level to watch is the 30-day moving average at 9.4. On the 1-hour chart, the price is steadily moving upwards along the 30-day moving average at 9.3. Short-term support is seen at the 1-hour 30-day moving average. A break above the daily 30-day moving average at 9.4 could extend the upward rebound. Looking at the daily chart for Ethereum, two consecutive large bullish candles have pushed the price back to the 256-day moving average. Currently, the price is fluctuating around 3170. Watch for a pullback to 3170. If it holds, the 3170 level will be confirmed as support, turning from resistance to support, and could trigger a new round of upward movement. The resistance level to watch is the 4-hour 256-day moving average at 3360. Midday Trading Strategy (Written at 13:10): BTC: Buy at 9.2, add to long position on pullback to 9.1, target 9.35/9.45; Sell at 9.45/9.55 for 1-3000 points. ETH: Buy at 3160, add to long position on pullback to 3100, target 3250/3300; Sell at 3300/3360 for 6-100 points. 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 everyone. Welcome to leave comments below for discussion, I will reply to each one.