Saturday Summary & 5.17 Sunday Early Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions

1. Saturday Market Review
The easiest profit in trading is staying in sync with the market, not fighting against the trend. Looking back, Saturday’s market continued the weak pattern from Friday night, with a steady decline and no resistance from the bulls. Bitcoin started gradually declining around 79,200 in the early morning, broke below 78,500 in the afternoon, and accelerated downward in the evening, reaching a low of about 77,601, hitting a new weekly low. Ethereum also weakened simultaneously, sliding unilaterally from around 2,230, with the lowest point at 2,160.50, closing the day with a bearish candlestick. It then oscillated narrowly at low levels, showing an extremely weak overall trend, with the bears fully controlling the market rhythm.

2. Zhi Lan’s Real Trading Positioning
Faced with this unilateral downward trend, Zhi Lan’s strategies in the early morning and afternoon both indicated a firm bearish outlook. Every rebound was an opportunity to short. Bitcoin gained a total of 1,991 points in the day, while Ethereum gained 64 points, allowing steady gains even during the weekend market.

3. Current Market Analysis
After two days of continuous decline, the market has entered a low-level weak consolidation phase. Bitcoin is currently hovering around 78,200, with resistance forming in the 78,500-78,700 range. The hourly Bollinger Bands are opening downward, with the candlesticks running along the lower band, which is near 77,984. The momentum for further sharp declines has weakened. Ethereum is around 2,180, also near the lower Bollinger Band. After consecutive bearish candles on the four-hour chart, a doji star appeared, with support temporarily at around 2,160. Indicators show the market is oversold, indicating a short-term technical correction is needed. Early morning, it is likely to see low-level oscillation or slight rebound correction, but the overall trend remains bearish. Traders can consider a wave of oversold rebound, but should act quickly with fast entries and exits.

4. Trading Suggestions
After continuous declines, the short-term divergence rate is too large, and a rebound correction is needed. Traders can take a small position to play a rebound but should avoid holding on too long.
BTC: Support at 78,000-78,150, with a bullish target first at 78,600, and a breakout above near 79,000.
ETH: Support at 2,165-2,175, with a target first at 2,200, and a breakout above near 2,225.

It should also be noted that this is a short-term rebound strategy. Once the target is reached, take profits promptly. If the market directly breaks below 77,600 or 2,160, the rebound idea is invalid, and no further entries should be made.
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