Crypto News
May 10th Hot Topics:
1. JPMorgan: If the US SEC rejects the spot Ethereum ETF, it may face legal challenges and ultimately lose the lawsuit
2. Binance CEO: Nigerian officials demanded a $150 million bribe
3. Six Hong Kong spot Bitcoin and Ethereum ETFs have total assets under management exceeding $317.4 million since their establishment
4. Citadel Securities CEO: Unclear cryptocurrency regulation remains a problem
5. CTC Alternative Strategies holds $27.7 million worth of BlackRock spot Bitcoin ETF
Trading Insights
Seize the opportunity before getting involved.
You should know that "there are unexpected changes in the world, and people have fortunes and misfortunes." The market's ups and downs are filled with too many uncertainties. Because you always operate in a market with no profit, losing money becomes inevitable, and making money becomes incidental. After mastering the trading skills, making money becomes inevitable, and losing money becomes incidental.
Short-term traders should enter and exit quickly, and it is advisable to remain empty-handed and watch most of the time. Only get involved when you see an opportunity, this is called "not releasing the eagle without seeing the rabbit." Neither blindly getting involved in a certain currency, nor buying a certain currency in advance, only get involved just before a market appears, to avoid entering too early, waiting empty-handed, and wasting time. This will affect the efficiency of your capital utilization. Neither bottom-fishing nor fleeing the peak, only profit from the middle, that is, so-called "only eat the middle part of the fish"; neither aim for the head nor the tail.
Because aiming for the head requires a long wait, which is too slow; aiming for the tail carries a greater risk, a slight carelessness may lead to being trapped; not being greedy avoids being trapped, do not be greedy, it is best to take profit when things are going well. Do not get involved in advance, so you don't have to wait anxiously.
Search for the public account: "Big White's Crypto Forum"
BTC
Analysis
Bitcoin's rebound in the early session yesterday was not significant. The second dip in the evening tested support near 60620, followed by a continuous upward trend, reaching a peak near 63420, and those who followed this strategy profited over 2000 points from long positions. Currently, the coin price is running near 62860. The four-hour candlestick chart shows a strong rebound with consecutive positive trends, the MACD has turned from bearish to bullish with a golden cross of the two lines, and the MA7 has turned upwards, indicating a short-term bullish trend. Pay attention to the resistance near 63200, and the daily candlestick chart shows signs of reversal with a cross-shaped trend, the 60,000 support has been held, but overall it is still in a range-bound state. Watch for a breakthrough of the 63200 resistance and the MA30 moving average pressure. The direction still leans towards bullish, with resistance at 63200-64200 and support at 62300-61500.
ETH
Analysis
Ethereum once again fell to support around 2950 in the evening yesterday, followed by a rebound, but slightly weaker than Bitcoin. The highest point reached was around 3059, and those who followed this strategy profited around 100 points from long positions. Currently, the coin price is running near 3030. The four-hour chart shows a resistance to the upward trend, with a bearish candlestick, but the retracement is not significant. The MACD is running bullish with a golden cross of the two lines, and short-term attention is on whether the 3030 support can hold. If it cannot, it will test the 3000 support level again. Looking at the daily chart, there is more resistance on the upside, but the support on the downside is also strong. As long as the daily chart is positive and stays above the MA120, there is a possibility of another uptrend. The current view remains unchanged, mainly buying on dips, with resistance at 3050-3130 and support at 3000-2950.
Disclaimer: The above content is for personal reference only and does not constitute specific trading advice, nor does it 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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