5.4 BTC/ETH Market Outlook:

Bitcoin tested the 79,500 zone three times, and was pressured again, pulling back. The daily K-line closed with a bearish cross star with upper and lower shadows, ending the previous three consecutive bullish sessions. The weekly K-line closed with a hanging man bearish line, ending the previous four consecutive bullish sessions. The short setups given last Friday were for going short around 78,500 and 80,000 for Bitcoin; and for Ethereum, going short from 2310 to 2370. If you entered those shorts, you can continue to hold—high-short (selling at resistance) thinking remains unchanged!

The market tested the top three times and then retreated. At present, the need for a pullback on the chart is still there. On the 4-hour timeframe, the previous candle closed as an inverted hammer bearish line. MACD shows bearish divergence at the top. Both KDJ and RSI have turned downward. For intraday trading, focus mainly on going short/high.

For resistance overhead, watch the 78,500 and 80,000 levels. Place your high-side layouts around here; when the market pulls back, support levels to watch are 77,500, 76,500, and around 75,500.

For Ethereum, the rebound strength is a bit lacking—its high was only around 2356 before facing pressure. The intraday approach is mainly high-short. For resistance overhead, watch 2320 and 2370. Enter from the highs around these levels. For support below, watch 2250, 2200, and around 2150.#WCTC交易王PK $BTC ‌