Analyst Chen Shu: 7.6 Narrow Range Consolidation Awaiting Market Direction, Midday Bitcoin and Ethereum Market Analysis Strategy

From the daily chart of Bitcoin, the current price is maintaining around the daily MA5/10 moving average line. Pay attention to the support level at 10.78; if it is lost, the price will likely retrace to the MA30 moving average line at 10.65-10.6. Looking at the 1-hour chart, the short-term support to watch is the MA256 moving average line at 10.77. The bullish trend will depend on whether the price can consistently stay above 10.78. First, focus on the direction chosen by the market.

From the daily chart of Ethereum, the price is currently oscillating around the MA30 moving average at 2510. Pay attention to whether the price can consistently stay above this level. On the 4-hour chart, the short-term rebound is approaching the MA256 moving average line at 2530. Watch for whether it can break through and stay above this level; if it does, the short-term will return to a bullish trend; otherwise, it will test the support at 2460-2400.

Midday Trading Strategy (Written at: 15:00):

BTC: Short at 10.88, add to short at 10.95, target 10.8/10.75; Long at 10.76/10.65, looking for a 1-2000 point rebound.

ETH: Short at 2535, add to short at 2580, target 2500/2460; Long at 2450/2400, looking for a 5-80 point rebound.

The daily analysis strategy has a very high win rate! Analysis is not easy, so I hope everyone can give a free follow, save, like, and comment. Thank you all, and feel free to leave comments below; I will reply to each one!

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