Zhou Yanling: Bitcoin and Ethereum's latest trend forecast analysis and strategies in the European and American sessions on May 20th
Bitcoin's safe-haven stimulus has risen all the way. After reaching a high in the Asian session today, it fell back under pressure at 67,300 in the short term. After a rapid deep V reversal in the afternoon, it has returned to near the morning's decline. From a technical perspective, after Bitcoin's continuous hourly rise, it is getting further and further away from the moving average, indicating a short-term adjustment demand. It is not very meaningful to chase long positions at high levels now. Even if you go long, you need to wait for a pullback to stabilize. Do not easily chase long positions at high levels. The previous K-line of Bitcoin formed a bearish engulfing pattern, and the subsequent continuous K-lines did not break through strongly. Therefore, a short-term adjustment for Bitcoin is imminent. Intraday, continue to pay attention to the resistance at 67,500. If it is not broken, you can continue to take short-term short positions. After the support stabilizes below, you can continue to go long.
May 20th Bitcoin trading strategy:
Short at 67,200-66,900, stop loss at 400 points, target 66,400-66,000.
If the pullback does not break 66,500, focus on going long in the evening. Go long at 66,500-66,800, stop loss at 400 points, target near 67,600-68,000.
[The above analysis and strategies are for reference only. Please bear the risks on your own. The article's review and release may have delayed strategies and lack timeliness. Please refer to Yanling's real-time strategy for specific operations.]
This article is exclusively authored and shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for more than ten years, mainly analyzing and guiding operations in the coin circle contracts/spots such as BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, etc. With solid theoretical foundation and practical experience, the author is good at combining technical and fundamental analysis, focusing on capital management and risk control. The operating style is steady and decisive. The author is recognized by a large number of investment friends for being easy-going and responsible, as well as decisive in operations. If you need to know more about real-time investment strategies, trading techniques, operation skills, and candlestick knowledge, you can follow the teacher (WeChat public account: Zhou Yanling).
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