Analyst Chen Shu: On July 25, the news led to a significant price drop. Midday analysis and strategy for Bitcoin and Ethereum.

From the daily chart of Bitcoin, the daily line currently shows a large bearish candle that has broken below the consolidation range mentioned in yesterday's article. The support below is focused on the MA30 daily moving average at 11.4. On the 4-hour chart, the last candle closed as a large bearish bar, with the price dropping to the MA120 daily moving average at 11.58. If it cannot return above 11.58, it will continue to retrace, so we will treat it as a short position on rebounds.

From the daily chart of Ethereum, the daily line is currently still holding above the MA10 daily moving average. We need to pay attention to whether it breaks below the MA10 daily moving average at 3620, which is a small support level. On the 4-hour chart, short-term support is focused on the MA60 daily moving average at 3560, while the resistance level is focused on the MA30 daily moving average at 3700. At the same time, on the 1-hour chart, the short-term resistance level above is first at 3650, and support is focused on the MA256 daily moving average at 3515.

Midday trading strategy (written at 14:30):

BTC: Short at 11.57, add to short at 11.65, target 11.4; look for a rebound of about 2000 points at 11.4/11.3.

ETH: Short at 3630, add to short at 3680, target 3550/3500; look for a rebound of 5-80 points at 3500/3450.

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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