Preface: Investment carries risks, and operations should be cautious.

Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!

Article writing time: May 12, 12:34 PM Beijing Time

Market Information

1. The Democratic Party of Korea is formulating a cryptocurrency policy agenda, with specific details to be announced later;
2. The value of the U.S. government's cryptocurrency holdings has risen to $21.156 billion;
3. Coinbase CEO: The goal is to become the world's largest financial services application within ten years;
4. As altcoins shake off their downturn, investors' views on cryptocurrencies are rapidly changing;
5. Vice President JD Vance will speak at the 2025 Bitcoin conference;

Market Review

Due to some business matters, updates have not been timely during this period. Please forgive me!!!

During this time, Bitcoin has risen from over 80,000 to over 100,000, an increase of more than 20,000 points, and this wave of increase has basically not looked back, starting to rise after some fluctuations. The current highest point is at 105,190. Ethereum has also seen a rise, and the altcoin market has warmed up, with Ethereum's highest point at 2,608, rising straight from around 1,800. There are many reasons for the rebound; currently, major countries are blaming each other for the small fruit wars, and Bitcoin, with insufficient regulation, is now seen by many as a safe-haven product, meaning the price will only continue to rise unless there is a joint resistance from major countries. However, from the current situation, every country has Bitcoin as part of its international reserves, so from this perspective, the chance of a significant drop in Bitcoin is low. In terms of news, Bitcoin was previously designated as a reserve currency by Trump, but subsequent news has been relatively scarce. Recently, news about cryptocurrencies has emerged again, and the market has responded by rising. The recent rebound is mainly due to these reasons;

Market Analysis

BTC:

Looking at the daily chart of Bitcoin, although this wave of rebound is strong, it has not broken through the strong resistance of the rebound. This pressure zone is between 105,000 and 102,300. Bitcoin is currently operating within this range. If the daily chart breaks and stabilizes above 105,000, the market will break through the pressure and continue to move towards 110,000 or even higher. Conversely, if it cannot break through, this wave of rebound will start to correct, with support for the correction looking at around 98,000. In trading, if there is no effective breakthrough of 105,000 this week, one can start to short. In trading, positions can be arranged near the pressure area, focusing on the 105,000 pressure area, with a small loss limit, targeting around 98,000. If the rebound is strong, stop-loss for shorts near 105,000, then it will head towards 110,000. You can chase the rise according to the trend and grasp the entry opportunities yourself; for short-term trading, control risks and manage profits and losses independently;

ETH:

Looking at the daily chart of Ethereum, the previous trend was relatively weak. The trend before this wave of rebound was also quite weak, but this wave of rebound has given a bit of strength. Other altcoins have also followed suit with corresponding rebounds. However, despite the strong rebound, the pressure above Ethereum is still quite significant, with the next pressure level at around 2,750. Currently, Bitcoin is fluctuating, and the upward momentum of Ethereum is not that strong. In trading, it is recommended to short high and long low for Ethereum, with support at 2,430 and resistance at 2,750. Whichever side reaches first, trade that side. Currently, trade around this range for high shorts and low longs, and if it breaks, you can chase according to the trend. Enter with a good stop-loss and grasp the entry opportunities yourself; for short-term trading, control risks and manage profits and losses independently;

In summary:

After the rebound of Bitcoin and Ethereum, there is pressure above. In trading, one can start with light positions for short trades;

The article is time-sensitive, pay attention to risks, the above is only personal advice, for reference only!

Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;

If you don't like it, you must have your own standards for what you like. All negativity is the opposite of positive perception. The matter itself is not important; what matters is what changes you can achieve through it and what impact it can have! Some people like one-sided trends, some like fluctuations, some excel in rising markets, while others are obsessed with falling markets. No one is absolutely right, and no one is absolutely wrong. If you don't like it, it doesn't meet your standards; what you can't do may be what others excel at.

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