BTC, ETH (May 6th) market trends, operational points, and predictions. Has the V-shaped reversal been established?

CN
1 year ago

"Today's Market 5.6" video click to open: https://zhuanlan.zhihu.com/p/696183286

"Today's Market 5.6" video click to open: https://youtu.be/RkeUpOYNttQ

"Today's Market 5.6" video click to open: https://weibo.com/7866282591/Od2tFxDSc

(Video recording time: 2024.5.6.13:00.)

☀ BTC major trend: upward;

Minor trend: downward;

Short-term trend: upward;

BTC spot or low leverage: If you can accept a stop loss at 56500, you can buy on dips.

☀ ETH major trend: downward;

Minor trend: upward;

Short-term trend: upward;

ETH spot or low leverage: If you can accept a stop loss at 2815, you can buy on dips.

From the perspective of news, on May 3, Grayscale, which has been selling for 113 consecutive days, suddenly bought 1067 BTC. 11 spot ETFs that had been net outflows for a week started buying again, and three spot ETFs listed in Hong Kong bought 4218 BTC in three days. This may be one of the reasons for the appearance of a V-shaped pattern.

From a technical perspective, in the previous video, Lao Wang said: Now is the best time to liquidate long positions! If history repeats itself, it is possible to break through the range box when President Bao speaks, and then rise again!Whether the V-shaped reversal can be established, breaking through 67300 is crucial!If it can break through, the minor trend will change completely, and it is not recommended to short again at that time!

✿Analysis has me and trading has no me. Analysis with subjective imagination is nothing more than wishful thinking. Trading must be based on the market trend. As long as the market provides opportunities, hold on, whether long or short, and strive to maximize profits at the smallest cost. If right, hold on; if wrong, run away quickly.

(For details, please see the video.)

✿ETH: For positions near 4045 and 3670, it is recommended to set a trailing stop loss around 3370 for profitable short positions that have not been closed. For long positions entered at 2839 triggered by the 12-hour RSI indicator, it is recommended to set a breakeven stop loss or 2895.

✿BTC: For positions near 38700, 46900, 47800, and 50290, it is recommended to set a trailing stop loss around 55000 for profitable long positions that have not been closed. For long positions entered at 56900 triggered by the 12-hour RSI indicator, it is recommended to set a breakeven stop loss or 58600.

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"Key Points to Watch" released at 2024.5.6.13:00. (Limit orders are very dangerous, and stop loss losses may be significant! Please operate with caution.)

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BTC Short-term Ambush Watch Suggestions (Do not open a position if the key points do not meet the conditions. If accidentally activated, please manage profits and losses on your own):

Short: (Automatic order) ❶ Trigger automatic short when the 12-hour RSI indicator reaches 80, stop loss at 1.5% (or manage profits and losses on your own), ❷ Trigger automatic short when the red X trend line is touched, stop loss at 1.5% (or manage profits and losses on your own).

(Key points) ❶ Near 6730, defend near 68200, target near or below 69000.

Long: (Automatic order) ❶ Trigger automatic long when the daily RSI indicator reaches 20, stop loss at 2% (or manage profits and losses on your own), ❷ Trigger automatic long when the white X trend line is touched, stop loss at 2% (or manage profits and losses on your own). ❷ Trigger automatic long when the 4-hour EMA60 indicator is touched, stop loss at 2% (or manage profits and losses on your own).

(Key points) ❶ Near 60700, defend near 60300, ❶ Near 55800, defend near 55300, ❷ Near 52800, defend near 52300, target near or above 73000.

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ETH Short-term Ambush Operation Suggestions (Do not open a position if the key points do not meet the conditions. If accidentally activated, please manage profits and losses on your own):

Short: (Automatic order) ❶ Trigger automatic short when the 12-hour RSI indicator reaches 80, stop loss at 1.5% (or manage profits and losses on your own), ❶ Trigger automatic short when the upper rail of the downward parallel line segment is touched, stop loss at 1.5% (or manage profits and losses on your own).

(Key points) ❶ Near 3333, defend near 3390, target around 2720 or below.

Long: (Automatic order) ❶ Trigger automatic long when the 12-hour RSI indicator reaches 80, stop loss at 2% (or manage profits and losses on your own), ❶ Trigger automatic long when the lower rail of the downward parallel line segment is touched, stop loss at 1.5% (or manage profits and losses on your own).

(Key points) ❶ Near 2970, defend near 2940, ❶ Near 2720, defend near 2680, target near or above 4045.

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Special Reminder: Do not trade frequently, and do not make counter-trend limit orders.

The key points after the operation suggestions are fixed, while the market changes rapidly like a battlefield. In order to reduce risks, increase the winning rate and profit rate, it is strongly recommended to watch the video for a more scientific approach.

Lao Wang's Quotes

✿Do not hold on to profits, as the profits brought back will eventually be returned to the market due to "holding on."

✿Do not guess the top or bottom, as the profits guessed will eventually be returned to the market due to "guessing."

✿Do not guess the top or bottom, as it may still be halfway up the mountain.

✿Do not rely heavily on news, as this is still "guessing" the top and bottom.

✿Do not judge the trend based on secondary chart indicators.

✿Do not easily exit a profitable position, as it may be halfway up the mountain.

✿Do not get excited by large bearish or bullish candles, as it may be a "performance" for you to see.

✿Do not think that the market you see is the last wave of the market and act recklessly; as long as your capital is still there, there will be opportunities every day.

✿Do not trade frequently, as it will not only make you lose sight of the overall direction and increase the probability of making mistakes, but also increase trading costs, which is not worth it.

✿Do not make counter-trend trades, hold on firmly if right, and run away quickly if wrong.

✿Do not buy out of greed for low prices, nor sell because of high prices; do not act recklessly without a change in trend.

✿Do not make trading your main occupation, do not stare at the screen, as the time spent staring at the screen is inversely proportional to the profit.

✿Do not easily trust others' opinions, unless you are sure they are worth believing.

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☯The market is guessed by the majority, and when it accumulates to a certain amount, it will erupt in the opposite direction of the majority's guess.

☯Trading is the most difficult skill to master. The finer the skill, the smaller the risk. Impatience and roughness will be extremely dangerous.

☯Qualified traders not only need to grasp the direction of the major trend, but also need to have the ability to insight into micro changes, because any major market movement starts from the one-minute cycle and never returns…

☯Rather than envying the fish at the edge of the abyss, it is better to retreat and set up a net.

☯Accumulating wealth of millions is not as good as having a skill.

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