🙊Market outlook for midday on May 7. 🙊

$BTC Viewpoint:
Bitcoin has broken below the bearish flag pattern, currently testing the support at 80,885. If the support at 80,885 is broken, it will continue to retest the lower level at 79,590. Breaking below the red box area above 80,885 will also destroy this bullish trend, leading to sideways consolidation in the area marked by the red box below. The position marked by the white box above is an excellent shorting opportunity. I don't know if everyone has free time, but I hope the short sellers can exit just before the wave of decline! If you don't exit, you'll keep getting trapped. Has this upward move ended? I don't think so. As long as Bitcoin on the hourly chart does not fall below 78,205, the hourly bullish trend remains intact. Falling below 78,205 would only mean the hourly bullish trend is broken. The four-hour bullish trend is still healthy; this is just a normal retracement after the rise. The extreme retracement level on the hourly chart is 78,205. As long as it doesn't fall below that, there's no need to worry. After such a big rally, a retracement of $3,000 is reasonable. The market maker isn't a dragon that only eats but doesn't pull back, so don't assume every decline is a reversal. There are not that many reversals. As long as Bitcoin on the hourly chart stays above 80,885, it won't continue to retrace. If it stabilizes at 80,885, it will rebound further upward.
Bitcoin with volume breaking above 81,314 should be chased long on the right side. A volume breakdown below 80,852 followed by a rebound that can't recover indicates a short position on the right side; set a good stop loss.
On the hourly chart, a break and stabilization above 81,314 targets 82,192-83,540. If it can't go above 81,314, it’s useless.
On the four-hour chart, a breakdown below 80,878 points downward to 79,601-78,440.
Resistance levels above: 81,314-82,192-83,540
Support levels below: 80,816-79,558-78,434
$ETH Strategy:
Bitcoin with volume breaking above 2,334 should be chased long on the right side, with stop loss at the retracement.
Break below 2,308 with volume, chase short on the right side, with stop loss in place.
Retest 2,256 to confirm support is effective, add one position,
Break below 2,217, stop loss.
Bitcoin on the hourly chart stabilizing above 2,334 targets 2,378-2,400.
Watch for a short at 2,400,
Break above 2,425, stop loss.
Left-side order insertion: buy at 2,200, stop loss if below 2,171.
Resistance levels above: 2,334-2,378-2,400
Support levels below: 2,307-2,257-2,218
On the four-hour chart, a breakdown below 2,300 points downward to 2,257-2,232. Please see the comment section.
$BTC ‌#Gate广场五月交易分享