- Zhou Yanling: Bitcoin and Ethereum's latest trend forecast analysis and operational strategies for May 8th
We all know that the next wave of outbreak in the currency circle is brewing. The only premise for judging the brewing is oscillation. Oscillation represents the dilemma of long and short trading, and the market needs to provide guidance or a separate emotional outbreak in order to emerge. First of all, in terms of market guidance, Yanling believes it's better not to rely on it, because the guidance we can see is nothing more than two aspects, economic data and risk aversion. As for risk aversion, there's no need to talk too much about it. The progress in the Middle East region, which we occasionally see in the news, is still in constant conflict, but the actual impact on the market fluctuation is very limited. Basically, there has been no such large fluctuation behavior as before, and it can be said that it has entered a period of stagnation.
Actually, it can be seen so far that the consolidation and brewing in the past few days are almost over. Yanling has been bearish for the past two days, and the market has indeed fallen slightly, but it just didn't reach the waterfall effect that many people wanted. At the moment, the coin price has come to a critical level around 62,000. Everyone can see that the falling wedge channel has been broken, which is also the reason why I did the Fibonacci extension. First of all, it can give you a clear signal, but now this position has been broken by the market. In this case, the nearest resistance level has become around 63,200. You may not necessarily wait for 63,200 to go short directly. The market won't always give you the so-called topping operation. It's just a trend-following short position. So, as long as the pressure continues before the U.S. market, it's an opportunity to lay out short positions in the evening. At this moment, you can wait for a few hours before the U.S. market to give it a little rebound space and prepare for it.
Bitcoin operational strategy for May 8th:
- Short at 62,700-62,400, stop loss at 400 points, target at 61,800-61,400, continue to look at around 60,800 after breaking through
- Long at 60,700-61,100, stop loss at 400 points, target at around 61,700-62,100
[The above analysis and strategies are for reference only. Please bear the risk on your own. The article review and release may have lagging strategies and lack timeliness. Please refer to Yanling's real-time strategy for specific operations.]
This article is exclusively created and shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for more than ten years, mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV and other currency circle contract/spot operations, with solid theoretical foundation and practical experience. Proficient in technical and fundamental analysis, focusing on capital management and risk control, with a steady and decisive operating style. Widely recognized by the majority of investment friends for his amiable and responsible character and decisive operation. If you need to know more about real-time investment strategies, trading techniques, operational skills, and candlestick knowledge, you can follow the teacher (WeChat public account: Zhou Yanling).
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