May 13 Wednesday Afternoon Market Analysis



The white market continues to fluctuate sideways; on a one-hour chart, the price has broken below the range. The market appears to rebound slightly and recover, but it is clearly a trap to induce buying. Overall, the oscillating weak trend has been locked in.

In the short term, do not blindly chase longs or buy high. Every rebound is a good opportunity to enter short positions at higher levels. Wait for the rebound to reach a high point and then short aggressively!

Trading Suggestions

Bitcoin: Short around 81,500, target 80,500—80,000, and if it breaks below, add to positions to look for lower levels;
Ethereum: Follow up with short positions around 2,310, target 2,260—2,220 range
$BTC $ETH
BTC-1.17%
ETH-0.7%
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