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May 3 Night BTC/ETH/Meme God Strategy
Although it's a holiday, recent accumulation actions have been very well executed, and the opportunity to open up space above is about to arrive! Meme God has deeply considered where the big levels might go, let's take a look at the strategy.
BTC: Currently at 78,500, tracing back to January 31 of this year, there was a three-day consolidation here, and after three days of failure, there was a 14% plunge on February 5 with a single-sided move. So this level can be said to be the last glory of the bear, with a large portion of chips participating in this three-day resistance. Returning to the current position, since the first approach near 78,500 on April 17, there have been fifteen trading days trying to break through, including pullbacks and adjustments, but it has always maintained the momentum close to the target level. The technicals haven't broken down, and combined with the expectations of US and Iran negotiations, there is a chance to open up the upper three major target zones at 81,700-85,150-87,300 (next analysis). Tonight, focus on Bitcoin's sprint towards the 79,300-80,400 zone, ideally aiming to test the upper band at 81,700. The morning surged high and then fell back, but it didn't even touch the first support at 77,800 before rebounding, indicating strong bullish support. Since it can't fall further in a slow decline, let's hold our heads high and push towards the resistance levels! For short positions, look for opportunities around 81,700. If you don't have an early entry, you can use 77,850 as a defensive position, and buying a little above this level for participation is fine. The second support below is 76,666-77,300. If it breaks below 75,555, all bear logic faces invalidation.
ETH: Intraday pullback to 2,299, then a rebound to 2,330. The target for tonight's session is 2,330-2,355-2,380. Persistent resistance leaves little time for bears, and they must show their stance soon to take higher positions; otherwise, a prolonged battle might lead to internal capitulation. Intraday support is at 2,299, with a lower support at 2,268. (See chart for details)
$BTC