Analyst Chen Shu: 4.7 Afternoon Bitcoin and Ethereum Market Strategy Report, Downward Breakout Still Requires Attention to Downward Risks

From the daily chart, Bitcoin experienced a significant drop yesterday, leading to an urgent risk aversion. As global financial markets faced a black swan event due to the trade war, yesterday's daily candle closed as a solid green K-line, with the price directly breaking below the MA256 daily moving average. From the 4-hour perspective, the price shows a one-sided decline, having completely fallen below all moving average levels. Short-term support to watch is the weekly MA60 daily moving average at the 7.48 level. Until a strong and sustained rebound appears on the 15-minute/1-hour chart, it is advisable to be cautious about bottom fishing for long positions.

From the daily chart, Ethereum's solid green K-line yesterday directly broke below the previous low of the consolidation phase, showing a clear one-sided downward trend. The weekly and monthly K-lines have broken down, and there is basically no short-term support level to reference. It is recommended to engage in short trades during rebounds.

Afternoon Trading Thoughts (Written at: 13:00):

BTC: Short at 7.81, add to short at 7.88 on rebound, target 7.6/7.5; (For short positions, focus on the MA5/10 daily moving averages on the 1/2 hour chart to consider participation) ETH: Short at 1570, add to short at 1595 on rebound, target 1530/1500

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; I will reply to each one!

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