5.20 Bitcoin and Ethereum Trend Analysis and Trading Ideas!

CN
5 hours ago

Currently, from the daily chart perspective, Bitcoin has once again broken out after several days of sideways consolidation. It is currently facing resistance and pulling back after a second attempt to reach the previous high of around 106,000. The resistance remains at 106,000-106,500, while support is at 104,000-102,000. Ethereum has also made a second attempt to reach the 2,580-2,600 range before starting to pull back, with support at 2,500-2,450. If it breaks below, we will continue to look at the 2,350 level, with resistance at 2,580-2,600, and if it breaks above, we will look at 2,700.

From the 4-hour chart perspective, Bitcoin's second attempt is still facing resistance at around 106,500 and is pulling back. The short-term support level is at 104,500, and if it breaks below, we will look back at 103,000-102,000. For Ethereum, the support is currently at 2,500-2,450, with resistance at 2,580-2,600.

Trading strategy: We are currently in a phase of pulling back after a high. There is still room for Bitcoin and Ethereum to move downwards, so it is recommended to continue to short aggressively!

Short Bitcoin at the current price of 105,000-105,500, targeting 103,500-102,000;

Short Ethereum at the current price of 2,530-2,560, targeting 2,450-2,400;

The strategy is time-sensitive, please refer to the main page for details, and prioritize private real-time guidance!

Professional team gold medal analyst Ruo Yu focuses on contract trading guidance. Follow the WeChat public account "Coin Circle Ruo Yu" to understand real-time market analysis and trading strategies!

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