Preface: Investment carries risks, and operations should be conducted with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, and you are welcome to read!
Article writing time: May 21, 12:44 PM Beijing Time
Market Information
- The U.S. spot BTC ETF has seen a net inflow for four consecutive trading days, reaching $1.372 billion;
- The Texas House of Representatives passed a second reading to establish a strategic Bitcoin reserve;
- Michael Saylor stated, "Bitcoin represents the greatest digital transformation of the 21st century";
- "Fed mouthpiece" Nick Timiraos: Core PCE is expected to rise by about 0.13% in April;
- Musk: There is no conflict of interest between the Efficiency Department and my business;
Market Review
Previously, we mentioned that Bitcoin faced pressure around 105,000. The short positions we had previously notified offline have exited, and those who did not exit in time online have basically hit their stop losses. After this wave of high-pressure fluctuations, the market is slowly standing above the pressure level, with the current highest point at 107,292. There are no signs of a downturn in the large-scale closing, and Bitcoin is expected to continue to rise; the short position layout around 2,700 for Ethereum has still yielded a profit of 250, reaching the target near 2,450, with the lowest point for Ethereum at 2,312, followed by a rebound. The current price is fluctuating around 2,534;
Market Analysis
Bitcoin:
Bitcoin has been fluctuating at high levels and has stabilized above the pressure level of 105,000. The daily closing in recent days has shown strong bullish momentum. This wave of Bitcoin's rise has basically not provided any pullback opportunities, only high-level fluctuations after rebounds, continuing to rise in a stair-step manner. Currently, Bitcoin's trend is also showing high-level fluctuations, with daily closing indicating bullishness. With the stabilization above 105,000, the opportunity for a rebound is imminent. The main trading strategy is to go long, and entering directly can yield profits. It is recommended to enter around 106,800, with a stop loss at 105,000, and the target is to look for new highs. Please manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
Ethereum:
Ethereum's trend is slightly weaker. After facing pressure around 2,745, a small pullback occurred, and our short position also exited with profit. Subsequently, Ethereum rebounded and returned above the support level of 2,425. Currently, the daily trend has formed two bottoming candles, and a rebound is expected to follow. The trading strategy for Ethereum is also to go long, and entering at the current price of 2,550 is feasible, with a stop loss at 2,480. The initial target is to look for a breakout at 2,750, and if it breaks, aim for around 3,070. Please manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
In summary:
Both Bitcoin and Ethereum currently show bullish trends and are about to make higher rebounds. Pay attention to entry opportunities;
The article is time-sensitive, be aware of risks, and the above is only personal advice for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
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