Good morning, crypto friends! I am Wang Yibo! Thank you to the loyal fans for checking in, and may good luck come your way! Today is Monday, May 5, 2025, and the new week in the crypto world has begun. Let's focus on the hot topics and lock in the best trading opportunities!
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Over the weekend, the crypto market lacked significant news stimulation, leading to a tug-of-war with existing funds, and the overall trend was oscillating towards a bearish sentiment. The most significant event this week is undoubtedly the Federal Reserve's drama on Thursday evening! At 2:00, the Federal Reserve FOMC will announce its interest rate decision, followed by a monetary policy press conference by Powell at 2:30. This "king bomb" combination will essentially determine the future direction of the crypto market! From a technical perspective, if Bitcoin can quickly drop to the lower edge of the previous channel before Thursday, it could be a good thing! This is because clearing out the extreme liquidity above may lead to a "downward反V" market. However, it is crucial to closely monitor the adjustment space to see how low it can go.
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【Bitcoin Market Analysis】
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Looking back at last week, Bitcoin surged to a high of $97,840 on Friday night, but the selling pressure above was like a solid wall, and the bulls failed to break through, resulting in a pullback. The weekend trading was quiet, and combined with macro data impacts, the price of Bitcoin continued to oscillate downward, spreading cautious sentiment in the market. Yesterday during the day, the critical support level of $95,500 was breached, directly breaking the short-term consolidation deadlock. On the technical front, the 5-day moving average and the 10-day moving average formed a death cross, the MACD indicator's dual lines crossed below the zero axis, and the green bars continued to expand, signaling a strong bearish trend. We adjusted our strategy from bullish to bearish. Although there was a rebound to $95,708 overnight, the volume could not keep up, and the divergence between price and volume exposed the weakness of the bulls. In the early morning, the bears struck again, and the price dropped to $94,503, creating a new recent low.
In the future, focus on the four-hour support range of $93,800 - $93,500. If it can stabilize here, the bulls may launch a counterattack, and attention should be paid to the resistance levels of $95,000 and $95,500; if these are lost, the downward space will open up, and the $92,000 and $90,000 levels may become new support, significantly increasing short-term pullback pressure.
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【Ethereum Market Analysis】
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Ethereum also weakened in tandem with the overall market, quickly retreating after hitting a high of $1,841 in the evening session. The upper band of the Bollinger Bands on the four-hour chart formed strong resistance, making it difficult for the bulls to sustain under the divergence of price and volume. The price fell to a low of $1,805, breaking below the 5-day moving average, with the KDJ forming a death cross in the overbought zone, and the RSI also turning down from a high position, indicating a strong bearish sentiment in the short term. It is still oscillating at a low level, with a trend of further decline.
The key focus is on the four-hour support range of $1,780 - $1,750. If effective support is obtained, along with signals such as increased trading volume and shortened MACD green bars, the bearish strength may weaken, and the bulls may have a chance to counterattack, paying attention to the resistance levels of $1,845 - $1,860; if the support is lost, panic sentiment will further spread, and the bottom of $1,720 - $1,680 will be tested. If it breaks below, the downward trend may intensify. Additionally, Bitcoin's movements, macro policies, and regulatory dynamics will profoundly impact Ethereum's price, so it is essential to flexibly adjust strategies and keep pace with the market rhythm!
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If you are feeling lost—don’t understand the technology, don’t know how to read the market, don’t know when to enter, don’t know how to set stop losses, don’t understand take profits, randomly increasing positions, getting stuck at the bottom, unable to hold onto profits, missing out on opportunities… these are common issues for retail investors. But don’t worry, I can help you establish the correct trading mindset. A single profitable trade is worth more than a thousand words, and finding the right direction is better than repeated failures. Instead of frequent operations, it’s better to strike accurately, making each trade more valuable. If you need real-time guidance, you can scan the QR code at the bottom of the article to follow my public account. The market changes rapidly, and due to the timeliness of reviews, subsequent trends will be based on real-time layouts. I look forward to moving steadily forward in the market with you.
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