Analyst Chen Shu: Bitcoin and Ethereum retraced to confirm support on April 28th; pay attention to the 7.7 level.

Analyst Chen Shu: Bitcoin and Ethereum retraced to confirm support on April 28th. Watch the 7.7 level. Looking at the daily chart for Bitcoin, it's currently trading above the 120-day moving average (MA120). Short-term resistance is clearly seen at 7.95. Without breaking above this level, a strong rebound is unlikely. On the 4-hour chart, the previous retracement to the 60-day moving average (MA60) held. Watch whether this level forms support again and triggers a rebound. This 7.7 level also coincides with the 256-day moving average (MA256) resistance on the 1-hour chart. Ethereum, on the daily chart, is clearly suppressed by the 120-day moving average (MA120) at 2380. Short-term, it's consolidating within a triangle pattern. Support is seen at the 30-day moving average (MA30) around 2250. A short-term sideways-to-downward trend is expected. Midday Trading Strategy (Written at 12:00 PM): BTC: Short at 7.75, add to short position on a rebound to 7.85, target 7.65/7.55; Long at 7.6/7.5 for a 1-2000 point rebound. ETH: Short at 2305, add to short position on a rebound to 2350, target 2250/2220; Long at 2230/2200 for a 50 point rebound. Daily analysis strategies have a very high win rate! Analysis is not easy, so please give a free follow, save, like, and comment. Thank you! Welcome to leave comments below for discussion; I will reply to each one.