Crypto News
May 3rd Hot Topics:
1. Bank of America: Investors withdrew $600 million from cryptocurrency funds in a week
2. Bond traders bring forward the timing of the first interest rate cut by the Federal Reserve to November
3. 10x Research: Bitcoin may experience a false breakdown again
4. Hong Kong Bitcoin ETF currently holds 4,088 BTC
5. JPMorgan: Recent cryptocurrency market sell-off driven by retail investors
Trading Insights
Choose a technical analysis and trading market that you like and suits you, and focus on mastering this technique and market in trading. No matter what challenges you encounter in trading, do not give up. Only in this way can you have the opportunity to trade to your satisfaction.
To trade well, one must be focused on trading. Therefore, for traders, the first thing to do is to choose an analysis technique, and after choosing, consider how to learn this technique well. Then choose a trading market and consider how to use it well in this market. Finally, make these the direction of your trading efforts.
In actual trading, we always hear various voices from within and from the outside, and there may even be many voices that shake our confidence. The more important it is to be firm at this time, because once you give up, all the efforts and sacrifices will become meaningless.
If you are still in a very confused stage in trading and don't know what to do, first calm down. Don't rush to make money. Understand that sharpening the axe will not delay the cutting of firewood. Find a direction that suits you and can be achieved, and then step by step, you will gradually understand the direction. It's like being in the dark and unable to see the road ahead. Only by following a little light and groping forward bit by bit, can you have the opportunity to emerge from the darkness.
Search for the public account: "Big White Coin"
BTC
Analysis
Bitcoin showed an overall oscillating upward trend yesterday, reaching a high of 60,000 and encountering resistance. Congratulations to friends who followed the idea of going long at a low. Currently, the price is running near 59,100. The four-hour chart shows a bottom oscillating trend, with the MACD running in a bullish manner and the two lines crossing upwards. The market is running above the MA7, although there are pullbacks, it has not broken through, indicating strong support. Currently, the upper resistance is focused on the 60,000 mark. If it does not break through, the oscillating trend will continue. Looking at the daily chart, the first pullback to the MA120 has resulted in a rebound. The specific rebound level depends on the strength. It is expected that there will not be much action approaching the weekend. The overall strategy remains the same as mentioned above, with upper resistance at 60,000-61,000 and lower support at 59,000-58,300.
ETH
Analysis
Ethereum's overall trend is consistent with Bitcoin. It oscillated upward all the way yesterday, reaching a high of 3,036 and encountering resistance before falling back. Congratulations to friends who followed the idea of going long at a low. Currently, the price is running near 2,980. The four-hour chart is stuck in an oscillating phase after being blocked from moving upward, with the candlestick closing bearish and being suppressed by the MA7 moving average. There is still a need for a pullback. In the short term, pay attention to the 2,950 support situation. If it does not break, it will continue to test the resistance near 3,050. Looking at the daily chart, it once again encountered resistance from the MA120 moving average without breaking through, and the short positions are gradually decreasing. There is limited downside space in the short term, and the probability of breaking new lows in the short term is not high. It is expected to maintain an oscillating trend over the weekend. Only breaking through 3,050 will continue the upward trend. Holding coins for the long term is expected to see a rebound in the next two months. The upper resistance is at 3,000-3,050, and the lower support is at 2,950-2,900.
Disclaimer: The above content is for personal reference only and does not constitute specific operational advice, nor does it bear legal responsibility. The market situation changes rapidly, and the article has a certain lag. If there is anything you don't understand, feel free to consult.
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