Analyst Chen Shu: The strategy from yesterday, July 24, was effective in focusing on the valid support situation. Analysis of the Bitcoin and Ethereum market strategies at noon.

CN
4 days ago

Analyst Chen Shu: 7.24 Yesterday's strategy effectively focused on the situation of valid support. Midday analysis strategy for Bitcoin and Ethereum.

From the daily chart of Bitcoin, the recent market has been oscillating around the MA5/10 day moving average at 11.8. In the short term, we need to pay attention to whether the price can regain a position above 11.8. The recent low support level is in the range of 111.6-11.55, so we should focus on the breakout direction of this range. On the 4-hour chart, the short-term dense resistance level is at 11.84. If it cannot stay above this level again, the short-term trend will continue to test downwards.

From the daily chart of Ethereum, the daily candles have been closing in the red, and the price has currently retraced to the MA10 day moving average at 3550. We need to pay attention to the gains and losses at this level. On the 1-hour chart, the key short-term resistance level is at 3670. The retracement trend at the 1-hour level is quite obvious, with the lower support first focusing on the MA256 day moving average at 3450. The short-term operation suggests primarily shorting on rebounds.

Midday operation thoughts (written at: 14:30):

BTC: Short at 11.78, add short at 11.86, target 11.7/11.6; Long at 11.55/11.45, looking for a rebound of around 2000 points.

ETH: Short at 3580, add short at 3740, target 3530/3450; Long at 3500/3450, looking for a rebound of 5-80 points.

The daily analysis strategy has a very high win rate! Analysis is not easy, and 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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