Crypto News
May 2nd Hot Topics:
1. The Federal Reserve keeps interest rates unchanged.
2. The Federal Reserve will reduce the pace of reducing US debt from $60 billion per month to $25 billion per month starting from June 1.
3. Powell: Inflation remains high, and further progress is uncertain.
4. The probability of the Federal Reserve keeping interest rates unchanged in June is 90.9%.
5. The global Bitcoin spot ETF holds 932,420 bitcoins.
Trading Insights
During the trading process, one should learn self-restraint and fund management. Try to relax during operations. If the position is unfavorable, exit; if it is favorable, hold. You should focus on reducing losses rather than making more money. When your trading situation is not good, reduce the amount or stop trading. When trading is going well, increase the volume, but never enter into trading under circumstances beyond your control.
When trading, one should be cautious, as success in this field comes and goes quickly. Setbacks always occur when you are complacent. The speed of destruction is much greater than the time it took to build something. Some things take ten years to build, but can be destroyed in a day. Therefore, strict self-discipline is necessary at all times.
The majority of people have a mentality of being heavily invested and like to enter and exit with large positions. Therefore, you must change yourself in this regard. Throughout history, those who heavily invested all ended up in a bad situation. You must control each of your losses within 2%.
Search for the public account: "Big White Coin"
BTC
Analysis
Bitcoin fell below the new low of 56540 yesterday, rebounded from the support level around 57560, and reached a high of 59460, congratulations to friends who followed the low long strategy for gaining more than 3000 points. Currently, the coin price is running around 57560, and it has not broken the new low multiple times on the four-hour chart. The short-term decline has temporarily stopped, and the bottom is gradually rising. However, the rebound is weak, and the MACD is still running bearishly with a dead cross of the two lines. The market is still likely to decline under the pressure of the MA7 moving average. On the daily chart, the market rebounded upwards under the support of the MA120 moving average, but failed to stay and fell again, indicating a bearish trend. Currently, the support at 56000 is still effective, and there is still a risk of decline in the short term. It is recommended to observe more and act less in the short term, and continue to hold the coin for the long term. The resistance above is 58500-60000, and the support below is 57000-56000.
ETH
Analysis
Ethereum is slightly stronger than Bitcoin, with less decline. Yesterday, it rebounded from the support level around 2816 to a high of 3016, congratulations to friends who followed the low long strategy for gaining a hundred points. Currently, the coin price is running around 2930. On the four-hour chart, the short-term market is at the bottom and oscillating, with a small range of only over a hundred points. The bears are gradually reducing their volume, and the two lines are converging. If it can stay above the MA7, there is a possibility of further breakthrough; otherwise, the market will continue to oscillate. Looking at the daily chart, the MA120 support has turned into resistance, and the MACD is bearishly running but with insufficient volume. Currently, it does not seem to have effectively broken the new low. If the daily chart closes with a positive candle, there is a possibility of stabilization in the market. The strategy for Ethereum remains the same, maintaining a buy-on-dips strategy. The resistance above is 2980-3050, and the support below is 2850-2800.
Disclaimer: The above content is for personal opinions only and is for reference only. It does not constitute specific operational advice and does not bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there is anything you don't understand, feel free to consult.
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