5.19 Bitcoin and Ethereum Market Analysis ~ Is the weekend's market rebound a real breakthrough or just a false alarm?

CN
孟晓瀚
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5 hours ago

Over the weekend, Bitcoin fluctuated for a day, and in the evening, the bulls suddenly gained strength, pushing the price back above the 105,000 level. The daily MACD shows signs of a decrease in bearish momentum below the zero line, and the MA5 and 10-day moving averages are beginning to converge and rise. Looking at the 12-hour chart, the upper Bollinger Band is starting to contract, and the MA30 daily moving average and the middle band are resonating upward, indicating a strong desire for an upward trend in the mid-range. If the price can stabilize above last week's high of 105,800, then tomorrow's weekly K-line update will see Bitcoin testing historical highs.

On the 4-hour chart, the price is currently operating above the upper band. A large bullish candle is relying on the MA30 moving average for upward movement. Indicators show that the current MACD and KDJ are leaning towards bullish resonance. The short-term pullback is not very strong, leading to a tendency for high-level fluctuations. For the early morning, my personal view is to maintain a short-term trading strategy, looking to buy on dips.

Trading strategy: Buy at 104,500-104,000 with a target of 105,800 - 107,000. Stop loss: 103,500.

Although Ethereum's overall trend is in sync with Bitcoin, its trading volume and the overall strength of the 4-hour trend are not as strong as Bitcoin's, resulting in a lack of follow-through in the market. Therefore, my personal view is to maintain a short-term volatility trading strategy. Trading strategy: Buy at 2,530-2,500 with a target of 2,580-2,620. Stop loss: 2,480.
This is expected to be sufficient for the short-term trend, and I will continue to follow up later.

This personal opinion is for reference only. There may be delays in article review and push notifications, and the market changes rapidly. Specific entry and exit points should be based on real-time guidance. Please be cautious when entering the market. Analysis is not easy, and I welcome everyone to like and follow the public account for surprises!

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