Analyst Chen Shu: Watch for support at 10.8 after a peak at 7.4, midday analysis and strategy for Bitcoin and Ethereum

From the daily chart, Bitcoin has once again surged to a short-term high around 11.05 and is currently experiencing a slight pullback. The support below is focused on the MA5/10-day moving averages at 10.8/10.76. On the 4-hour chart, there have been consecutive small bearish candles, and the short-term has broken below the MA10-day moving average. Attention should be paid to the support at the MA30-day moving average at 10.8, as well as the MA256-day moving average at 10.72 on the 1-hour chart. The resistance level to watch is at 10.96.

From the daily chart, Ethereum closed with a small bullish candle yesterday, with prices continuously pressured by the 2600-2630 range. The short-term support is focused on the MA30-day moving average at around 2500. On the 4-hour chart, the support below is at the MA256-day moving average at 2530; if this level is lost, it may continue to pull back to the 2500-2480 range. The resistance level to watch is at 2600. Midday trading strategy (written at 15:00):

BTC: Buy at 10.8, add to position at 10.72, target 10.9/10.95; short above at 10.94/11, target 10.85/10.8.

ETH: Buy at 2520, add to position at 2480, target 2580/2620; short above at 2590/2630, target 2530/2500.

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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