Market laws, twists and turns, cyclical changes, internal cultivation, external practice, the road is long and far. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave to try. Different attitudes towards life lead to different results. Without great ambitions, even with the help of influential people, one will ultimately achieve little. Countless difficulties are not insurmountable. The success story of an investor is actually a history of learning and growth. The journey may be arduous, but don't forget the original intention to achieve the ultimate goal.

2024.5.9 BTC————————

After the daily line of Bitcoin fell below the 62000 support, the price quickly broke through to the 61000 level. In the early session, there was a certain degree of rebound strength. The key is whether the price can hold at the 60000 integer mark after perfectly releasing the bearish momentum with three consecutive daily declines. The resistance above the daily line is focused on the 62500 level. In the short term, the four-hour Bollinger Bands show a downward trend, and after the price continues to hit new lows, it is recommended to pay close attention to the support strength at the 60200 level. The upward resistance is focused on the vicinity of 63000. The overall trend on the hourly chart is a bearish decline, with overall trading volume declining. There was a significant increase in short positions in the early morning, and there will definitely be a certain degree of rebound in the Asian and European sessions. In summary, it is suggested to short Bitcoin on the rebound.

Pending order:

Short at 62500-63000, defend at 400 points, target above 500-800 points

(The strategy can only be used once, and the placement can be arranged at your discretion)

2024.5.9 ETH————————

There is not much emphasis on the daily trend of Ethereum, and the bearish trend prevails. In the early morning, the price tested the main support of the four-hour period at 2950-2930 as mentioned yesterday. Currently, the price has a certain degree of rebound strength. Therefore, it is important to pay attention to whether 3000 will form a turning point. The suppression strength on the daily line did not move down with the price, so the focus is still on the 3050 level. In the short term, the continuous bearish trend on the four-hour chart has led to no obvious support below. If 2950 continues to break, it is recommended to pay close attention to the 2880 level. In the next hour, the price will definitely test the 3000 integer mark on the rebound, and it must have the ability to break through 3030 in one go to show signs of a halt. Otherwise, the strength of short positions will continue to intensify. In summary, it is suggested to mainly short Ethereum on the rebound.

Pending order:

Short at 3050-3080, defend at 50 points, target above 50-90 points

(The strategy can only be used once, and the placement can be arranged at your discretion)

This article is exclusively written by senior analyst Qin Chuan. He has been studying the investment fields of Bitcoin, Ethereum, futures, spot, gold, forex, and stocks for many years. Currently, he mainly guides futures operations, with a solid theoretical foundation and practical experience. He is good at combining technical and fundamental analysis, focusing on capital management and risk control. His operating style is steady and decisive, and he is recognized by a large number of investment friends for his amiable and responsible personality and sharp and decisive operations. For more real-time investment strategies, trading techniques, operational skills, and knowledge of candlestick charts, please follow the public account: Zhao Qin Chuan.

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Any operation based on this is at your own risk. Investment is risky, and market entry should be cautious.

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