Preface: Investment involves risks, please proceed with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Time of writing: 14:57, May 10th, Beijing time
Market Information
- Cardano founder: Biden is actively trying to strangle the U.S. cryptocurrency industry;
- Jack Dorsey stated that by 2030, the value of Bitcoin will "at least reach 1 million";
- Breaking news: Trump announced acceptance of cryptocurrency donations for presidential campaign;
- Former SEC commissioner stated that the SEC's view on cryptocurrencies is "too broad";
- JPMorgan: If the SEC refuses to approve the Ethereum ETF, it will face legal challenges and ultimately lose.
Market Review
Currently, Bitcoin and Ethereum have seen a small rebound in the short term. Whether it's an increase or decrease, fluctuations are normal. Most of the time, the market fluctuates up and down. Yesterday, we recommended a position near 62100 for Bitcoin, and the rebound point for Bitcoin is near 63400. The rebound for Ethereum is at 3058. The rebound is somewhat strong, but it does not necessarily indicate the start of a rebound in the market. The support range for Bitcoin below is 60000-58500, so there won't be a significant rebound. After the rebound, the market will continue to decline.
Market Analysis
BTC:
Looking at the 4-hour chart, although Bitcoin has rebounded in the short term, it has not broken the downtrend line. The market is also running below the 200-day moving average and has not yet broken through. There is significant pressure in the short term. Although the recommended position from yesterday was swept, it does not mean that the market will continue to rebound. The rebound is for a better decline. Breaking below the support level of 60000 indicates a strong bearish market. The subsequent rebound has not broken the short-term high of 67232 and will start to decline. The current small rebound is just a small rebound in the process of decline. The market has little opportunity for one-way movement, and most of the time it fluctuates. In the short term, the outlook for a decline is still good. The expected range is still 60000-58500. The recommended position for short-term trading is near 63500, with the target range still at 60000-58500. As long as it does not break through 65500, the space is relatively safe. Enter the market at your own discretion. Trade in the short term, control the risk, and take responsibility for gains and losses.
ETH:
Looking at the 4-hour chart, Ethereum's rebound is relatively weaker compared to Bitcoin. The strength of the rebound is not strong, and it has not broken the previous downtrend line. There is still significant pressure above. The pressure for Ethereum is near 3155, and the short-term pressure is near 3065. There is not much opportunity to break through the 3221 position in the rebound. There is pressure from the 200-day moving average above. In trading, pay attention to the situation after reaching 3155 to make arrangements. If it breaks the 3221 position, there is no need to continue holding short positions. The target is the 2970-2900 range. Enter the market at your own discretion. Trade in the short term, control the risk, and take responsibility for gains and losses.
In summary:
The short-term rebound of Bitcoin and Ethereum is for a better decline.
The article is time-sensitive, be cautious, the above is only personal advice, for reference only!
Follow the public account "加密老赵" to explore the market together;
What you think you're hearing is an opinion, but in reality, it's often just noise. In the market, opinions are even cheaper than cabbage in the market, they are worthless. You need to be able to distinguish between opinions and facts. At any time, with anyone's expression, try asking yourself: Are they stating facts or expressing an opinion?
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
