Analyst Chen Shu: On July 28, a volume-reduced rise, short-term focus on pressure breakthrough. Midday Bitcoin and Ethereum market analysis strategy.

Bitcoin, from the daily chart perspective, has risen slightly over the weekend, closing yesterday with a small bullish candle, with the price standing above the MA5/10 daily moving averages. For short-term support, focus on the level of 11.85; if it holds or breaks, it will be significant. The resistance levels to watch are 120,000/121,000. Looking at the 1-hour chart, the current price has risen to around 111.98 but is starting to stagnate. Key support below to focus on is the MA256 daily moving average at 11.82; if it pulls back to 11.82 and holds, then short-term support will be confirmed and it will rebound; otherwise, it will continue to move in a range adjustment.

From the daily chart of Ethereum, yesterday closed with a bullish candle, and the price is above the MA5/10 daily moving averages. Short-term support to pay attention to is around 3780/3740. In the 4-hour view, the current key short-term support is at the intersection of the MA30/60 daily moving averages, around 3700. If this level does not break during the pullback, the short-term bullish trend will not end. Currently, there is a rise with reduced volume, so pay attention to the strength of the pullback to see if it will break below the two support levels of 3800/3700.

Midday trading strategy (written at: 12 : 30):

BTC: 120,000 shorts, 121,000 add to shorts, target 11.85/11.75; 11.82/11.75 look for a rebound of around 2-3000 points.

ETH: Short at 3880, add to short at 3930, target 3800/3700; Long at 3700/3660, watch for a rebound of 5-80 points.

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