Analyst Chen Shu: 7.30 Range Fluctuation Waiting for the Market to Give Direction, Midday Bitcoin and Ethereum Market Analysis Strategy

From the daily chart of Bitcoin, yesterday it formed a small doji bearish candle, closing below the MA5/10 day moving averages. Throughout the day, continue to pay attention to whether the price can regain the level above 11.83. On the 4-hour chart, the short-term has continuously formed red candles, and the price is currently above the MA120 day moving average at 11.8. Watch for whether it can continue to hold above 11.8. On the 1-hour chart, the price has been fluctuating around the 1-hour MA256 day moving average at 11.8. In the short term, pay attention to whether there is support on the pullback to 11.8.

From the daily chart of Ethereum, yesterday's green doji candle maintained above the MA5 day moving average, and the pullback did not break the daily MA10 day moving average. In the short term, continue to pay attention to the support and resistance around 3800/3760. On the 4-hour chart, the price has again pulled back to the MA60 day moving average without breaking it, and it has continuously formed red candles. Watch for resistance at 3860/3880.

Midday Operation Thoughts (Written at: 15:30):

BTC: Short at 11.85, add to short at 11.9, target 11.75/11.7; consider long positions at 11.7/11.6.

ETH: Short at 3830, add to short at 3880, target 3760/3730; consider long positions below 3700.

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

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