5.12 Midday Silk Road and Suggestions

Bitcoin's current market movement is really strong! It challenged 82800 three times but didn't break through, and a very dangerous signal appeared. The high point of Bitcoin is above the declining red arrow, which might form a triple top. It's still unknown because the market hasn't played out yet. Only a break below the support at 80415 on the hourly chart can confirm that the triple top is established. The price tested the support at 80415 four times with downward spikes but didn't break it. Each spike's low was higher than the previous one. This support has been tested multiple times, and each rebound hasn't created a higher high. This support is likely to be broken. Additionally, an M-head pattern appeared inside the triangle, with the neckline around 80500. A break below the triangle support at 80415 will break the M-head pattern, confirming its formation, and a correction will begin.
This rebound upward still can't break the high at 82800. If it keeps bouncing around the 80415 support without breaking it, a decline is imminent. Let's wait and see! As long as Bitcoin's price doesn't fall below the low indicated by the white arrow below during a pullback, everything is fine. Once it breaks below that low and forms a lower low, the correction will continue. Remember two key levels today: only a breakout above 81631 can extend the rebound toward 82800; only a break below 80415 will lead to a further decline toward 79190. If it can't go up or down decisively, it will oscillate around 81631-80415 in a sideways pattern.

Bitcoin with volume broke above 81325, follow the long side, and chase after the breakout.
If it drops below 80510 with volume and then rebounds without reclaiming, follow the short side, and set a good stop-loss.
If Bitcoin's hourly chart stabilizes above 81325, look toward 81944-82800.
If it can't go above 81325, that level is useless.
On the 4-hour chart, a break below 80400 indicates a target of 79246-78153 downward.
Resistance levels above: 81325-81944-82800
Support levels below: 80528-79507-78378

$ETH Silk Road
With volume, break above 2318, follow the long side, and set a stop-loss on the rebound.
If it drops below 2302 with volume, follow the short side, and set a stop-loss.

Confirm support with a pullback at 2265, add one position,
Stop-loss at 2229.
If the hourly chart stabilizes above 2318, look toward 2344-2383.
Watch for a potential short at 2383,
Break above 2423 with a stop-loss.
Left-side spike orders: buy at 2217, stop-loss if below 2160.
Resistance levels above: 2318-2344-2383
Support levels below: 2300-2262-2218

On the 4-hour chart, a break below 2296 indicates a target of 2263-2219 downward.
The Silk Road pattern broke out but showed multiple upward spikes that failed to break 2345, as indicated by the white arrow.
Subsequently, a decline occurred, testing the support at 2298, which is currently holding.
To stop the decline and rebound, a break above 2345 is needed.
A break below 2298 will test the support zone at 2262-2250.
If it can't go up or down decisively, and remains oscillating between 2345 and 2262, that's good.
Breaking below the 2262-2250 support zone would weaken the Silk Road pattern again.
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