Hello everyone, I am Gu Yue. Since May, the market has undergone tremendous changes again. The price of Bitcoin has returned to over $100,000, and Ethereum has gradually caught up, rising from around $1,300 in April to over $2,600, doubling in value. It has experienced two phases of fluctuations, each lasting about ten days. Starting from May 8, the daily chart has shown a three-day bullish trend, advancing steadily. Most analysts believe there will be a pullback in the market, but unexpectedly, the market did not provide any opportunities. Those who went short mostly suffered significant losses, and I am no exception. As for the current trend, the bullish momentum remains strong, and it is expected to rise further. In May, we will see Ethereum starting with 3 and Bitcoin starting with 11; it’s just a matter of time. What is most important for us now is how to choose the entry points.

Technical Analysis

From the daily chart, we can see a three-day bullish trend. The MACD red energy bars are gradually increasing, the moving averages have broken through the middle band of the Bollinger Bands and are continuously diverging upwards, with bullish momentum gradually strengthening. Currently, there are no signs of a decline in the market; any drop is just a slight pullback waiting for the technical indicators to catch up with the trend. From the hourly chart, the K-line is currently running at the upper band of the Bollinger Bands, and the market will face slight resistance, leading to a minor pullback. For Bitcoin, pay attention to the support at $103,500, and for Ethereum, focus on the support at $2,480. In the short term, one can go short first and then enter long positions near the support.

Trading Suggestions

Go long on Bitcoin in the range of $103,500-$103,800 with a target of $105,000.

Go long on Ethereum in the range of $2,480-$2,500 with a target of $2,650.

There are many types of investments, and it is important to choose what suits you best. There are many paths, and it is crucial to choose the right guide. I am Gu Yue, interpreting world economic news, analyzing global investment trends, and providing daily market analysis to offer you the latest trading strategy ideas and professional investment consulting services to help you reach the peak of financial management.

This article represents personal views only and is for reference only, not to be used as a basis for actual operations. The market is unpredictable, and profits and losses are self-responsible. For the latest trading strategies, follow the public account: Gu Yue KOL.

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