Market laws, twists and turns, cycles of change, internal cultivation, external practice, the road ahead is long. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave enough to try. Different attitudes towards life yield different results. Without great ambitions, even with help from influential people, one will ultimately achieve little. Countless difficulties are not insurmountable. The success story of an investor is actually a history of learning and growth. The journey may be tough, but don't forget the original intention, and you will eventually succeed.

2024.5.10 BTC————————

The daily chart of Bitcoin has just touched the previous layout pressure level, forming a bullish engulfing pattern with a transition from bearish to bullish. However, the price is still in a bearish trend, with attention to the resistance near 63500 on the daily chart. The bullish energy of the Ma Cha Dao is slow and weak, so attention should be paid to the upward pressure on the daily chart. In the short term, the price has broken through and entered the upward channel on the four-hour chart, forming a short-term support range of 62200-62500. Although there is a reversal trend in the bullish and bearish energy on the attached chart indicators, the KDJ three lines are running too sensitively, indicating that the bullish strength on the four-hour chart is not very strong. On the one-hour chart, the Bollinger Bands are running with an open gap, and most people will ambush long positions around 61800. However, I believe that the current price is already a resistance level. If the price is under pressure to decline, it proves that the support below may not be effective. Overall, if the bulls want to exert force, they must break through 63500 in one go; otherwise, the price may continue to oscillate and fall. Based on the above, the suggestion is to focus on shorting Bitcoin in the rebound.

Pending orders:

Short at 63500-63800, with a 400-point stop loss and a target of 400-900 points or more

(The strategy can only be used once, and the placement can be arranged at your discretion)

2024.5.10 ETH————————

The daily chart of Ethereum shows a clear bearish trend, with strong resistance at 3050-3080. The MACD volume on the attached chart is stagnant, with the fast and slow lines smoothly adhering below the zero axis, indicating overall low volume operation on the daily chart. In the short term, the price has temporarily returned above the psychological level of 3000 on the four-hour chart. With the Bollinger Bands starting to contract, there is a high probability of short-term consolidation and absorption. The MACD indicator on the attached chart shows a reversal of bullish and bearish energy, with the fast and slow lines crossing and the KDJ three lines running to the overbought zone at a high level. Overall, the four-hour chart indicates a strong rally and repair, with attention to the upward resistance of 3120-3150 in the future. On the one-hour chart, 3000 is a short-term support level, which should be closely monitored. Based on the above, the suggestion is to focus on shorting Ethereum in the rebound.

Pending orders:

Short at 3120-3150, with a 50-point stop loss and a target of 50-80 points or more

(The strategy can only be used once, and the placement can be arranged at your discretion)

This article is exclusively written by senior analyst Qin Chuan, who has been studying the investment fields of Bitcoin, Ethereum, futures, spot, gold, forex, and stocks for many years. Currently, he mainly guides futures operations, with solid theoretical foundation and practical experience. He is good at combining technical and fundamental analysis, focusing on capital management and risk control, and has a steady and decisive operating style. He is recognized by a large number of investment friends for his amiable and responsible personality and sharp and decisive operations. For more real-time investment strategies, trading techniques, operational skills, and knowledge of candlesticks, please follow the public account: Zhao Qin Chuan.

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Trading based on this carries its own risks, and investors should be cautious when entering the market.

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