Yue Ying: 5.12 Bitcoin and Ethereum Market Analysis Today, Bulls and Bears Battle Intensely, Deep Dive Drop to Shake Out Before Coming? Latest Strategy Included

I am Zhou Yue Ying. Friends who like the article, please follow, and see today’s sharing!

Bitcoin Technical Analysis ————

Bitcoin daily chart shows the previous candle closed with a solid bullish body, but the opening today did not continue upward and was resisted near the upper band, then pulled back. The Bollinger Bands are opening upward, with short-term moving averages trending higher. The MACD fast and slow lines are turning downward, with decreasing histogram bars. The KDJ has turned and crossed downward, watch for support near the 50 level. The VR indicator is consolidating around 210.
On the four-hour chart, the market temporarily broke below the middle band and then rebounded sharply, currently trading above 81,000. The Bollinger Bands are narrowing sideways, with short-term moving averages trending upward. The MACD fast and slow lines are parallel and narrowing, with decreasing histogram bars. The KDJ has turned upward, watch for support near the 0 level. The VR indicator is consolidating around 130.
Overall, the market surged and then sharply dropped in the morning, then oscillated upward again. The structure continues to maintain an upward trend. Currently, it’s not advisable to chase the rally, especially when making new highs. Yue Ying believes that for the market to rise better, it must undergo a deep drop to solidify support. From the bottom around 65,000, although there was a slight shakeout in the middle, it was not thorough enough. So, if there is a strong upward push, be cautious of a drop.
In the short term, continue to watch the support around 80,000. For resistance, focus on around 83,800 and below. Follow the short-term advice;

Bitcoin short-term suggestion: buy above 80,500, sell below 83,300 (activate strategy for profit, manage at your own discretion)

Ethereum Technical Analysis ————

Ethereum remains volatile within a wide range today. After finding support around 2,300, it rebounded. Currently, it is trading above the four-hour middle band. The overall trend is aligned with Bitcoin’s reference.
Short-term resistance is around 2,450, support around 2,250. Follow the short-term advice;

Ethereum short-term suggestion: buy above 2,300, sell below 2,420 (activate strategy for profit, manage at your own discretion)

—— I am Zhou Yue Ying, a teacher focused on technical analysis. If anyone has questions about operations or trends, feel free to communicate and learn together! Share and profit together! $BTC ‌#Gate广场五月交易分享 #WCTC交易王PK