Today is May 9th, Friday. This wave of market movement is very exciting. Our expectation for this bullish trend is a one-sided rise.
The first target is 102,400, the second target is 106,400. The first target has already been surpassed, and we are just a little short of 106,400. Let's take a look at the current trend to see if there are any opportunities. Currently, the 4-hour pattern is still in a high-level consolidation phase, and the indicators on the smaller time frames need to be corrected. In other words, we can see the position where it needs to retrace, and we still focus on buying. The first retracement position is around 99,100. If it reaches this position, we will continue to look for buying opportunities. The target above is 106,400-107,100, with the second target being 106,400-107,000. Clearly, this wave is at the second-highest position, touching the second-highest trend.
So don't easily go short; there hasn't been a clear top structure. Going short would at most just be for a small short-term trade. The current wave has already significantly exceeded our expected target.
Our expectation for the first target is 2,100, and the second target is 2,300, but it has already reached 2,500. So the target has been significantly exceeded. Profits are abundant, and currently, the price of the second coin has already risen very high, so a correction is just a matter of time.
It is best to wait for lower buying opportunities; it is not yet time to short. If you want to go short, wait for a clear top structure to form before doing so.
Our expected target for this wave, once 2,100 is confirmed and stabilized, there are only two targets above: one is 2,530, which is very close, and the second is 2,830, which is the target for Ethereum above.
So there is still room for long positions.
If you are unsure about your directional points,
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