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Analyst Chen Shu: 7.31 midday strategy profits follow the 11.82 hold above situation, midnight market analysis / accompanying trading strategy
Midday article suggests shorting Bitcoin at 11.85 and Ethereum at 3830. The market successfully provided multiple entry points and retraced, resulting in a profit of 1500/100 points for short positions. Congratulations to those who followed the operation.
Market Analysis: The daily line of Bitcoin has once again closed in the red, failing to successfully break and hold above the MA5/10 daily moving averages at 11.82. This line is also under pressure from the MA120 daily moving average on the 4-hour chart. Focus on the breakthrough and hold above this line in the short term, as it can be seen as a dividing line for bullish and bearish trends; as for Ethereum, the daily line is currently still above the MA10 daily moving average at 3760. Pay attention to whether it will directly break below this line on a pullback, with support at 3740 and resistance at the stability of the price range of 3820-50.
Trading Strategy (Published at: 01:30):
BTC: 11.85/11.9 short, target 11.75/11.65; buy at 11.55 below and look for a rebound of 2-3000 points.
ETH: 3820/3850 short, target 3750/3700; 3680/3600 line to enter long and look for a 60-100 point rebound.
Daily analysis strategy has a super high win rate! Analysis is not easy, I hope everyone can click for a free follow, collect, like, and comment, thank you all, and welcome everyone to leave messages below for discussion, I will reply one by one!