May 11th, Kòngǔ: After a sharp drop late at night, is a new round of short selling starting?

CN
1 year ago

2024.05.11 Saturday

After a late-night plunge, is a new round of short selling starting?

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  1. Daily chart: After the price broke below the 60,000 support level, it returned above it. If the subsequent pullback does not break this level, there is still a trend of continued upward movement.

  1. 1-hour chart: After a short-term break below the 62,000 support level, there was a rebound. If the subsequent rebound does not break this resistance, there is still a trend of continued downward movement.

II. Ethereum

  1. Daily chart: After probing the 3,100 support level, the price maintained a range. If the subsequent range does not break this support, there is still an upward trend.

  1. 1-hour chart: After a short-term break below the 2,960 support level, there was a rebound. If the subsequent rebound does not break this resistance, there is still a trend of continued downward movement.

I. Bitcoin

  1. Yesterday's view:

Summary: After a short-term break above the 62,500 level, there was a rebound. If the subsequent pullback does not break this support, there is still a trend of continued upward movement. Resistance above is at 65,400 and 67,900; if it breaks below, it will continue its downward trend, with support at 60,600 and 58,000.

Subsequent trend:

After breaking below the 62,500 level, there was a significant decline, reaching the first target of 60,600 and a low of 60,117.

II. Ethereum

  1. Yesterday's view:

Summary: After a short-term break above the 3,020 level, there was a pullback. If the subsequent pullback does not break this support, there is still a trend of continued upward movement. Resistance above is at 3,160 and 3,290; if it breaks below, it will continue its downward trend, with support at 2,921 and 2,800.

  1. Subsequent trend:

After breaking below the 3,020 level, there was a significant decline, reaching the first target of 2,921 and a low of 2,877.

I. Bitcoin

Summary: After a short-term break below the 62,000 level, there was a rebound. If the subsequent rebound does not break this resistance, there is still a trend of continued downward movement, with support at 58,700 and 56,600; if it breaks above, it will initiate a rebound trend, with resistance at 64,700 and 67,500.

II. Ethereum

Summary: After a short-term break below the 2,960 level, there was a rebound. If the subsequent rebound does not break this resistance, there is still a trend of continued downward movement, with support at 2,800 and 2,680; if it breaks above, it will initiate a rebound trend, with resistance at 3,050 and 3,190.

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