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5.15 Thursday afternoon Bitcoin Ethereum market analysis and trading recommendations
In the morning session, Bitcoin faced pressure and fell from the 103820 line, forming a significant technical correction trend. During the session, it exhibited a step-like oscillation downward characteristic, with Ethereum following the same trend as Bitcoin, starting the correction from the 2646 high. It dipped to a low of 2562, forming a short-term technical bottom.
From a technical analysis perspective, the price of Bitcoin has recently been consolidating between key support and resistance levels, forming a clear range. The 4-hour candlestick chart shows positive bottoming signals, and according to the Bollinger Bands indicator, it is currently testing the mid-band resistance level. If it can effectively break through the mid-band resistance, combined with the MACD indicator forming a golden cross on the 4-hour timeframe, it is expected to initiate a technical rebound, with a bullish outlook continuing into the afternoon.
Bitcoin: Buy around 102100, short-term target 104000
Ethereum: Buy near 2560 Short-term target 2650