Analyst Chen Shu: Did Bitcoin and Ethereum bottom out and rebound on December 19th? Watch for a breakout of key resistance levels.

Analyst Chen Shu: December 19th - Bitcoin and Ethereum Bottoming Out and Rebounding? Focus on Key Resistance Levels. Looking at the daily chart for Bitcoin, yesterday saw another long upper shadow green candlestick, consistently holding above the 30-day moving average (MA30) as analyzed in the article. Today, we continue to watch for a breakout of this 8.9 resistance level. Support is formed around 8.5. The overall market is currently oscillating within the 8.9-8.5 range. Pay attention to the direction of the breakout from this range. Consider small stop-loss orders near these levels. If a breakout occurs, switch to trend-following strategies. Looking at the daily chart for Ethereum, yesterday's daily candlestick slightly tested the low support. The daily resistance level to watch is the 30-day moving average (MA30) around 3000. The 1/4-hour resistance level is around 2960. A short position with a small stop-loss order can be considered upon the first touch of 2960, targeting a slight pullback. Support levels are around 2800/2700. Midday Trading Strategy (Written at 12:40 PM): BTC: Buy at the current price of 8.7, add to the long position on a pullback to 8.65, target 8.9/8.98; Sell at 8.95/9.05 with a target of 1-2000 points pullback. ETH: Buy at the current price of 2920, add to the long position on a pullback to 2870, target 3000; Sell at 3000/3050 with a target of 6-100 points pullback. Daily analysis strategies have a very high win rate! Analysis is hard work, 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.