This Week Summary & 5.17 Sunday Evening Bitcoin and Ethereum Market Analysis and Trading Suggestions

In the blink of an eye, this week is about to come to an end.
I. Market Review of This Week
The market trend this week has been quite turbulent, continuing the bullish atmosphere early in the week, with Monday reaching this week's high of 82,460; Ethereum also strengthened simultaneously, peaking above 2,381, showing a smooth upward trend, then the market entered a stepwise decline. On Thursday evening, a second rally began, but no new high was made. After encountering resistance at high levels, the bulls triggered a sharp decline, with Bitcoin falling from 81,999 and dropping to a low of around 77,601.8 by the weekend; Ethereum also declined in tandem, with a low of 2,160.50. Currently, the downward momentum has slowed, stabilizing and consolidating at low levels.

II. This Week’s Zhilan Shipan Layout Situation
This week’s layout still adheres to following the trend, flexibly switching between bullish and bearish positions. Although there was a small stop-loss on Bitcoin on Wednesday, the overall performance was very impressive: Bitcoin’s weekly long and short layout gained a total of 18,172 points of space, while Ethereum’s weekly layout gained 693 points. Congratulations to all friends who kept up with the rhythm this week.
Trading never has a 100% success rate; the best we can do is cut losses promptly when wrong, and hold on when right to achieve long-term stable profits.

III. Current Market Analysis
The current market has completed stabilization after the sharp decline; no further decline is the biggest positive signal, and a rebound from oversold conditions is about to begin. Bitcoin’s hourly Bollinger Bands are narrowing, with the price running around the middle band at 78,070. Intraday lows did not break new lows, and support at 77,600 is effective. The extreme narrowing of Bollinger Bands often indicates a trend reversal, and the low position after the decline suggests a higher probability of an upward reversal. Ethereum has broken above the middle band at 2,183, with support below at 2,160-2,170 solid. The hourly MACD shows signs of bullish divergence, indicating a strong technical rebound demand. During the decline, trading volume gradually shrank, and selling pressure has largely been released.

IV. Trading Suggestions
Capture a rebound wave, mainly buying at support levels with low positions, while controlling risk and setting proper stop-losses.
BTC: Buy in the 77,600-78,000 range, target 79,500, and look for a breakout towards 80,000.
ETH: Buy in the 2,160-2,180 range, target 2,250, and look for a breakout towards 2,300.
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