Analyst Chen Shu: 11.16 noon BTC, ETH market strategy *1, short-term strength again, pullback still needs to go long bullish

On the afternoon of November 15th, the analysis provided both long and short strategies. Short orders were given around 8.9 for BTC, and long orders were given at 3060/3020 for ETH. BTC pumped to around 92,000 during the session, followed by ETH pumping to 3160. Long orders gained over 100 points. Currently, in the short term, it continues to consolidate at high levels. For how to operate, please refer to the following analysis.

From the daily candlestick chart, BTC once again formed a large bullish candlestick yesterday and broke through and held above the 5-day moving average (MA5). The market trend is strong and the weekly chart also formed a large bullish candlestick, indicating a clear long position trend. The support level to watch is the MA5 on the daily candlestick chart. In the 4-hour chart, the current price is moving along the MA5/10 and is about to test the historical high point of 9.32. In the short term, the support level to follow is the MA5/10 and MA30 moving averages.

From the daily candlestick chart, Ethereum's basic trend is consistent with yesterday's analysis. It has found support after retracing the MA256 daily moving average. In the short term, it rebounded nearly 200 points but encountered resistance at the MA5 daily moving average. It will continue to follow whether the support of the MA256 daily moving average (3060) is effective.

Midday trading strategy (Drafting time: 17:20):

BTC: Light Position around 90,000, increase the position around 8.9, target is around 92,000

ETH: Light Position long near 3065, increase the position long on pullback to 3040, target is 3150

Note: Currently, BTC is still in a long trend, with the daily candlestick returning above MA5 again, and the weekly candlestick is also unilaterally bullish without any obvious signs of a top. Wait for a pullback opportunity and go long. It is expected that there will be little fluctuation on Saturday, and the direction of fluctuation will be observed on Sunday evening.

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