May 11 Night BTC/ETH Míshén Strategy

The current market is in a chaotic phase, characterized by a deteriorating correlation between mainstream and altcoins (only discussing mainstream and altcoins, not including newer ones). This situation usually appears in the mid-stage after a major market rally, for example, today SOL was able to shake off the influence of Bitcoin and Ethereum, maintaining high-level oscillations, indicating that SOL buying enthusiasm is strong, and funds are willing to control the market, including targets like BNB, Doge, SUI, which are all trying to break out into independent trends. Overall, the market is gradually digesting the panic from the previous decline, and also becoming less sensitive to US-Iran events. As profit effects continue to amplify, coupled with potential positive news that Tutu might release for the mid-term elections, including recent visits, all are worth looking forward to. A mid-term wave in 2026 is expected to emerge later.

BTC: The night session attempted to push towards 81,700 but failed to hold steady. The intra-day performance showed a wide divergence, with both sides of the debate lacking confidence in their positions—neither believes it can push higher, nor can it break down easily. The market appears fragmented. This is a normal phenomenon during the chaotic phase. Here, the approach is to do less and avoid over-injecting subjective assumptions. Wait until the mainstream and altcoins move in sync and can advance together before looking for breakout opportunities. The near-term resistance remains at 81,700, with the key support at the 80,000 integer level, and further support at 78,500. The larger range above is 81,700-85,150-87,300. (See chart for details)

ETH: The technical outlook for ETH has always been very clear and simple. After touching 2,380 during the night session, it started to retreat. During the day, it failed to hold the 2,330-2,380 range, with key levels at 2,299, 2,268, 2,233, and 2,197. Trading strategies are straightforward: if you want to add short positions near the top, defend with 2,330; if you want to attempt a rebound without shorting, look for the 2,330-2,355 range and defend with 2,355, and so on. Since recent attempts to break 2,380 have repeatedly failed, we need to wait for a signal before taking action. Keep an eye on the support levels below. (See chart for details) #Gate广场五月交易分享 $ETH