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Analyst Chen Shu: Yesterday's long positions in Bitcoin and Ethereum yielded profits again; watch for the strength of any pullback after the recent surge.

2026-01-05 05:43:11
Shareshare

Analyst Chen Shu: Bitcoin and Ethereum long positions were profitable again yesterday. Watch for pullback strength after the surge. Yesterday's midday analysis suggested a long position in Bitcoin at 9.08 and in Ethereum at 3115. The pullback provided an entry opportunity, resulting in a profit of 3000/100 points. Congratulations to those who followed the strategy! Looking at the daily chart for Bitcoin, the price continues to close higher, basically holding above the 60-day moving average (MA60) at 9.1. The next resistance level to watch is the previous consolidation high of 9.45. On the 4-hour chart, the short-term trend is generally upward along the 5/10-day moving averages. The short-term support level to watch is this level; if it holds, the bullish outlook continues. On the 1-hour chart, watch the 30-day moving average (MA30) for support. A pullback to this level could present a buying opportunity. From the daily chart, Ethereum has seen some upward movement, but the candlestick pattern is weak, indicating limited rebound strength. The key resistance level to watch remains the 256-day moving average (MA256) around 3330. Support levels to watch are the 5-day moving average (MA5) on the daily chart, and the 30/5/10-day moving averages (MA30/MA5/10) on the 1/4-hour chart, around 3140. Midday Trading Strategy (Written at 13:30):

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