5.8 Midday Silk Road and Suggestions

Bitcoin experienced a textbook-level decline followed by a natural rebound. The rebound did not break through the resistance at 82,192 and started a second retest, indicated by the white arrow above. Moreover, the second retest broke below the important support at 80,885-81,000. Currently, it retested 79,590 for support and began consolidating after a decline, with the consolidation range between 80,250 and 79,562. In other words, Bitcoin is currently choosing a direction. If the support at 79,590 holds, it won't continue testing the support at 78,133. If 79,590 is broken, given the current trend, 78,133 will also be hard to hold. Once 78,133 is broken, the hourly bullish trend marked by the large yellow box will end because lower lows have appeared, signaling the end of this hourly rebound. The yellow arrow below shows multiple tests of 79,590; it has not been broken yet, but to stop the decline and rebound, it must break through the price near 80,250 corresponding to the flag pattern. Only by breaking the flag pattern can the decline stop, and only by breaking out of the consolidation zone inside the flag pattern can higher highs occur, providing a chance for a rebound. However, to rise, it must return above the resistance at 80,885 to continue upward; if it cannot return above 80,885, the upward trend cannot be sustained.

Bitcoin with volume broke through 79,919 and is chasing the rebound on the right side;
79,461 with volume broke below and failed to recover, so chase the short on the right side, set a good stop-loss.
Bitcoin on the hourly level stabilized above 79,919, aiming for 80,885-81,702;
If it cannot go above 79,919, it is useless.
On the 4-hour level, if it breaks below 79,485, look down to 78,150-77,221.
Upper resistance: 79,919-80,885-81,702
Lower support: 79,451-78,139-77,169

$ETH Attitude Silk Road
Attitude volume broke through 2,290 and chased the long on the right side, stop-loss on the rebound.
2,263 with volume broke below and chased the short on the right side, set a good stop-loss.

Retest at 2,220 confirms support is effective, add one lot,
Break below 2,180 stop-loss.
Attitude on the hourly level stabilized above 2,290, aiming for 2,315-2,346.
Watch for 2,356 above for a short position,
break through 2,387 stop-loss.
Left-side order insertion: 2,157 long, break below 2,114 stop-loss.
Upper resistance: 2,290-2,315-2,346
Lower support: 2,265-2,218-2,157

On the 4-hour level, if it breaks below 2,166, look down to 2,218-2,175.
Attitude is a bit awkward now; it has been moving in a stair-step decline within the price channel and successfully broke the key support at 2,300. It seems headed toward 2,250. Once it breaks below 2,250, the hourly bullish trend of Attitude will end early, so look for a support signal at 2,218! Just remember, as long as Attitude does not return above 2,300, the decline will not stop, and do not expect a rebound.
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