Analyst Chen Shu: Bitcoin and Ethereum broke out strongly on December 29th; watch whether the bullish trend will continue.

Analyst Chen Shu: December 29th - Bitcoin and Ethereum break out strongly; watch for a continuation of the bullish trend. Yesterday's analysis suggested a long position at 8.72/2910; a slight miss could have resulted in a profit. Looking at the daily chart for Bitcoin, the short-term rally has broken through the key resistance level of the 30-day moving average (MA30) at 8.9. If it can hold above this level today, the short-term upward trend may continue. On the 4-hour chart, a large bullish candle has broken through the 256-day moving average (MA256). If it retraces to 8.9 and holds, a new round of rebound is expected, testing the 9.3 high. Looking at the daily chart for Ethereum, the price has also rebounded to around the 30-day moving average (MA30) at 3030. Watch for a breakout and hold above this level. On the 4-hour chart, the 256-day moving average (MA256) at 3000 has turned from resistance to support. If this support holds, it will form a key support/resistance level, leading to a rebound to test higher resistance levels. Midday Trading Strategy (Written at 15:00): BTC: Long at 8.91, add to long position on pullback to 8.85, target 9.05/9.15; Short at 9.3/9.4, target 1-2000 points pullback. ETH: Long at 3005, add to long position on pullback to 2960, target 3060/3120; Short at 3110/3160, target 6-100 points pullback. 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.