Zhou Yanling: Will Bitcoin Break Resistance and Surge on May 20? Ethereum Continues to Gain, Beware of Tail Risks!
Currently, the market is not suitable for overly sensitive individuals to operate, especially those traders who shout about soaring prices as soon as there is a rise, and worry about falling when there is a drop. Yanling can only say please stay away from this kind of market; it is likely to play tricks on you in the coming days. Yesterday's market was already very obvious in how it toyed with many people. Even if the coin price is about to start pushing upwards, it will still take time to gradually take hits. If you are eager to increase your trading frequency now, you will only be washed out more severely. In this phase of the market, just focus on the pressure and support levels to arrange your entry and exit; it’s actually quite simple and not that complicated. As long as you stand firm and don’t panic, holding onto your positions during these days can yield considerable gains.
In terms of market trends, Bitcoin currently shows strong bullish momentum on the 4-hour candlestick chart. Although there was a significant pullback in the early morning yesterday, the price rebounded significantly during the evening US trading session. Currently, in the short term, the MACD indicator continues to diverge above the zero axis, indicating that the bullish trend is still ongoing, with no obvious signs of weakening in the short term. The RSI indicator is currently possibly in the overbought area above 70, suggesting a risk of a pullback in the short term, but as long as it does not break key support, the upward trend will continue. The current price is above the 21-period EMA (Exponential Moving Average), indicating a bullish short-term trend. The EMA21 may provide dynamic support around $100,000. This rebound focuses on the resistance level of $109,600 (historical high), and once the bulls break through strongly, the next challenge may be the $110,000-$120,000 range.
Zhou Yanling's May 20 Bitcoin Trading Strategy:
Buy at 103,000-103,700, stop loss below 102,000, target 105,000-106,000, continue to look for 107,000 nearby.
Sell at 107,000-106,200, stop loss above 108,000, target 104,800-104,000.
Zhou Yanling's May 20 Ethereum Trading Strategy:
Buy at 2,420-2,460, stop loss below 2,380, target 2,550-2,600, continue to look for 2,680 nearby.
Sell at 2,700-2,660, stop loss above 2,750, target 2,550-2,500.
[The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.]
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years and currently mainly analyzes and guides BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. For more real-time community guidance, consultation on position liquidation, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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