5.16 Market Analysis: Bitcoin Fluctuates Upward, Altcoins Struggle to Change Downward Trend

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8 hours ago

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  BTC: From a daily perspective, yesterday's pullback did not effectively break below the support of the 5-day EMA, and the pattern indicates a bullish reversal. On the 4-hour chart, multiple bottom supports have formed around 101400. As long as this level holds, it is likely that the market will continue to test previous highs. The smaller support level is around 102500.

ETH: From a daily perspective, there are clear signs of weakness. It may be challenging to break the previous high of 2730 in the short term, so pay attention to the resistance level around 2640 above.

For more explanations, please watch the video patiently. If you have any questions, you can follow the public account: Ding Junxian.

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