Analyst Chen Shu: 4.17 Midday Bitcoin and Ethereum Market Strategy Report, the range of fluctuations is narrowing and a breakout is imminent

From the daily chart, Bitcoin once again formed an inverted hammer with an upper shadow yesterday, rebounding for several days but failing to break through the 60-day moving average on the daily chart. The short-term significant resistance level is at 8.58, while the short-term support level below looks at the 30-day moving average at 8.36. The 8.36 level has not been broken despite several retests. Looking at the 4-hour chart, the short-term support is also at 8.37, which is the 256-day moving average. Focus first on the breakout situation of this small range.

From the daily chart, Ethereum's short-term oscillation trend continues to weaken, with the range of fluctuations decreasing. The daily level is oscillating around the 5/10-day moving averages, adjusting around 1600. At the same time, the short-term dividing line between bulls and bears focuses on the 1-hour MA256 moving average at the level of 1580.

Midday operating strategy (writing time: 13:30):

BTC: Buy at 8.38, add to long at 8.32 on pullback, target 8.45/8.58, consider entering short at 8.58

ETH: Buy at 1585, add to long at 1560 on pullback, target 1620/1640; follow Bitcoin for short positions

Daily analysis strategy has a very high win rate! Analysis is not easy, I hope everyone can click for a free follow, save, like and comment. Thank you all, and feel free to leave comments below; I will reply one by one!