Analyst Chen Shu: Short-term divergence appeared on July 16, Ethereum rebounds, midday analysis and strategy for Bitcoin and Ethereum

From the daily chart, Bitcoin closed with a green K-line yesterday, with the price breaking below the MA5 moving average but then stabilizing. In the short term, the support to watch below is the MA10 moving average at around 11.55. On the 4-hour chart, the current price has rebounded to the MA30 moving average at around 11.83, which is a resistance level. We need to pay attention to whether the price can break through and stabilize above this level. If it can hold above this level in the short term, it will indicate that the trend may strengthen again. Watch for continued rebounds on the 4-hour chart.

From the daily chart, Ethereum closed with a bullish candle yesterday, indicating a strengthening trend. After the rebound, the price reached a high point of around 3150. On the 4-hour chart, the short-term price is steadily moving upwards along the MA5/10 moving averages. For support, pay attention to the MA5/10 moving averages on the 1-hour chart and the MA5 moving average on the 4-hour chart.

Midday trading strategy (written at 14:00):

BTC: Buy at 11.7, add to long position at 11.6, target 11.8/11.9; short at 11.9/12, looking for around 2000 points.

ETH: Buy at 3005, add to long position on pullback at 3060, target 3100/3150; short positions can follow Bitcoin.

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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