Crypto News
May 5th Hot Topics:
1. The Federal Reserve reduced its balance sheet by $77 billion in April, bringing the total assets to $7.362 trillion.
2. Over $4 billion has been invested in cryptocurrency startups this year.
3. Former CEO of Bitmex: Bitcoin trading price will be between $60,000 and $70,000 before August.
4. PAULY: Mistakes in operation led to the loss of 1155 WBTC from the wallet.
5. aavebank.eth withdrew a value of $7.35 million worth of altcoins from Binance 6 hours ago.
Trading Insights
Admit mistakes, stand up to the consequences, avoid risks, and stop loss in time:
Traders should remember the "crocodile rule," which means that when a crocodile bites your foot, if you try to use your hand to free the bitten foot, the crocodile will take the opportunity to bite your hand and foot at the same time.
The more you struggle, the more the crocodile will bite. Therefore, when a crocodile bites your foot, the only way is to stop loss in time and decisively sacrifice one foot.
The market is a continuous process of self-cleansing. Stop loss, position management, mentality, and so on, if any of these are neglected, it may lead to heavy losses or even liquidation. Therefore, self-improvement, self-discipline, respect for the market, will lead to long-term success in the investment market!
Search for the public account: "Big White Coin Forum"
BTC
Analysis
Bitcoin's upward breakthrough in the evening was consistent with the train of thought. It reached a high of 64500 and then fell back, dropping to the support near 62900. Congratulations to friends who followed the low long strategy. Currently, the price is running around 63240. The upward trend on the four-hour chart was blocked, the strength weakened, the candlestick turned negative, and the MACD long trend gradually decreased. In the short term, there is still a demand for downward movement, and the expected retracement strength will not be too great. The daily chart shows three consecutive positive candlesticks, with attention to the suppression of the 30-day moving average above. The current market is in a high-level oscillation. If it can stabilize at 64500, it will definitely enter a new space. The intraday strategy suggests treating high short and low long, with resistance at 63800-64500 and support at 62500-62000.
ETH
Analysis
Ethereum's trend yesterday was consistent with the train of thought. After breaking through 3130, it reached a high of 3167 and then fell back, dropping to the support at 3072. Congratulations to friends who followed the low long strategy. Currently, the price is running around 3090. The four-hour chart shows consecutive negative candlesticks falling back, with the long trend gradually decreasing. Although there is a rebound, the strength is not great, and there is still room for retracement below. Pay attention to the support at 3050-3030. The daily chart has formed a bullish divergence structure, and there is still room for upward movement. Overall, the market is in a large range oscillation and is currently in the bottom area. As long as it holds the 3k level, the possibility of a major decline in the near term is small. The strategy suggests focusing on low long, with resistance at 3130-3180 and support at 3050-3000.
Disclaimer: The above content is for personal opinions only and is for reference only! It 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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