5.12 Morning Thoughts

Looking at the current market, after a rally in the early hours, the bulls remain strong, with no signs of stopping. Although the daily chart closed with a bearish candle, it remains above a high level overall, and the long lower shadow further solidifies the foundation for a bullish rally. The market has not shown signs of a sharp rise followed by a decline, and there is still room for increased volume to push higher.

The bulls failed to continue the upward momentum in the early hours, so a pullback correction is likely. Therefore, the entry points for long positions can be slightly lowered. The short-term pullback is only a correction in space, limited by support levels below. The market is entering a consolidation phase supported by the lower support, essentially gathering strength for a breakout.

Before a deep retracement occurs, the overall upward trend remains unchanged, and confidence in the continuation of the bulls is maintained.

Trading Suggestions

BTC: Long between 80,500–80,800, target 83,000, stop loss below 80,000
ETH: Long below 2,300, target 2,380–2,400, stop loss below 2,260