5.1 Friday Awei Evening BTC / ETH Ideas


From the daily chart, Bitcoin still remains in a large downward channel, with the current price below the middle line of the channel. The rebound in late April is more of a technical correction to the sharp decline in March-April.
On the 4-hour chart, ETH's weak rebound forms a typical "descending flag," which is a bearish continuation pattern. The upper resistance of the flag is in the 2330–2350 range, with the lower boundary moving down with the price. After the rebound weakens, it is highly likely to break below the lower boundary and continue the downward move equal to the length of the flagpole.
Trading suggestions:
Bitcoin: Short around 77,550, target 75,500
ETH: Short around 2,300, target 2,200
The one-sentence high-level short strategy remains unchanged, waiting for a signal of resistance at the key pressure level. #美国寻求战略比特币储备 #GateCard一拍即付 $BTC $ETH ‌ ‌
BTC2.57%
ETH2.08%
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