5.1 Friday midday market analysis


From the current market structure, on the hourly level, Bitcoin faced resistance after a rally and continued to decline, while Ethereum did not break above the 2300 level after a rally. The recent rally in the Nasdaq, driven by continuous surge and volume breakout, failed to form a sustained and effective breakout for the bulls. The recent upward move caused their structure to form liquidity hunting and fill the upper gap. Now there is heavy selling pressure, and it is recommended to enter short positions at high levels.
BTC trading suggestion: Short around 77,300, add positions around 77,800, stop loss at 78,500, take profit at 76,400-75,200
ETH trading suggestion: Short around 2,290, add positions around 2,330, stop loss above 2,360, take profit at 2,260-2,235$BTC
BTC1.95%
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