Market Outlook May 7



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1. Market Review
1. Last night, Bitcoin and Ethereum surged then pulled back, expected to top out in the short term
①Last night at 20:15, US ADP employment data exceeded expectations, bearish;
②Recent weeks’ gains have been large, and bulls are taking profits, causing a sell-off

2. Today’s Expectations
1. Short-term top, entering a consolidation phase
①Bitcoin expected to range between [82,000-80,000] today
②Ethereum expected to range between [2,380-2,280] today

3. Trading Strategy and Mid-term Outlook
1. Sell high, buy low. Based on today and tomorrow’s trend, consider setting small wave short positions
2. Potential bearish factors include Friday’s non-farm payrolls and Middle East situation changes.
①If ADP employment data exceeds expectations, Friday’s non-farm payrolls may also be bearish, so caution is needed.
②Although the Iran situation has eased, there are reports that Israel’s ammunition replenishment is nearing completion, and the possibility of renewed conflict still exists. This is a potential bearish factor.

$ETH
ETH-3.86%
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