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

2024.5.16 BTC————————

The daily chart of Bitcoin has experienced a breakthrough influenced by CPI data, with the current price running above 66000. Yesterday's layout resulted in regretful losses. Currently, there is no obvious high resistance level on the daily chart. In the short term, after a straight rise in the four-hour chart, it is suggested to pay close attention to the selling pressure in the range of 67000-67500. The indicators in the attached chart have been running in the overbought zone for a long time, and there is not much reference value in the indicators. On the hourly chart, the overall price has begun to show signs of divergence with the attached chart indicators. It is suggested to focus on the support level after the downturn, with particular attention to the strength around 64200-64600. Overall, the daily chart has forcefully broken through the trend line separating long and short positions. It will take 18-36 hours to determine whether the trend has completely reversed. Therefore, it is prudent to continue to stay out of the market and observe, while aggressively positioning long deals on the rebound.

Pending orders:

Long at 64200-64600, defend against 400 points, target above 800-1500 points

(The strategy can only be used once, and the placement of the take-profit is at your discretion)

2024.5.16 ETH————————

The overall trend of Ethereum is relatively normal. Influenced by Bitcoin's strong rise, practical operations yesterday resulted in breaking even without capturing profit opportunities. There is still some resistance above Ethereum on the daily chart. It is crucial to focus on whether the resistance zone of 3070-3090 can be broken and stabilized within the day, in order to change the long and short trend on the daily chart like Bitcoin. The range of 2930-2960 below has currently formed a support-resistance swap, creating a new short-term downward support level. The Bollinger Bands on the four-hour chart are running with the three lines opening up, and the overall price is running within a new upward channel. It is important to note that the support below has not moved up with the price breakthrough, so it is advised not to blindly chase long positions. On the hourly chart, the price shows signs of divergence, and the extent of subsequent downward correction needs to be observed. In summary, it is prudent to stay out of the market and observe in the short term, while taking aggressive long positions on the rebound.

Pending orders:

Long at 2920-2950, defend against 30 points, currently above 50-80 points

(The strategy can only be used once, and the placement of the take-profit is at your discretion)

This article is exclusively written by senior analyst Qin Chuan, who has researched Bitcoin, Ethereum, contracts, spot trading, gold and foreign exchange, and stocks for many years. Currently, he mainly guides contract operations, with a solid theoretical foundation and practical experience. He excels in combining technical and fundamental analysis, emphasizes capital management and risk control, and has a steady and decisive operating style. He is widely recognized by investment friends for his amiable and responsible character, as well as his decisive operations. For more real-time investment strategies, trading techniques, operational skills, and knowledge of candlestick charts, follow the public account: Zhao Qin Chuan.

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Trading based on this information is at your own risk. Investment carries risks, so entry into the market should be cautious.

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