Analyst Chen Shu: The news on 7.25 caused a significant drop in prices, midday Bitcoin and Ethereum market analysis strategy.

Bitcoin, from the daily chart perspective, currently shows a large bearish line breaking through the consolidation range discussed in yesterday's article. The support below focuses on the MA30 daily moving average at 11.4. From the 4-hour view, the last candlestick formed 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, and we should first treat it as a rebound to short.

From the daily chart of Ethereum, the daily line is currently still supported by the MA10 moving average. Pay attention to whether it breaks the small support at the MA10 moving average level of 3620. On the 4-hour chart, the short-term support to focus on is the MA60 moving average at 3560, while the resistance level to watch is the MA30 moving average at 3700. At the same time, on the 1-hour chart, the short-term resistance level above is first at 3650, and the support to focus on is the MA256 moving average at 3515.

Midday trading ideas (written at: 14:30):

BTC: 11.57 short, 11.65 add short, target 11.4; 11.4/11.3 look for a rebound around 2000 points

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

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