05.18 Monday Morning Market Analysis



Bitcoin quickly plunged at the opening, directly breaking below the key support level of 77,000 and dropping to 76,000 USD. Short-term bearish momentum is concentrated, and the market has entered a panic-driven correction phase.

From a technical perspective, the 4-hour moving averages are in a bearish alignment, the MACD green bars are continuously enlarging, and the downward trend is clear; the original consolidation range has been directly broken, with the first support at 76,000. If this level is lost, the correction space will open further.

Short-term trading suggestions
Bitcoin: Short around 77,300—78,000, target 76,000
Ethereum: Short around 2,150, target 2,079
BTC0.02%
ETH0.46%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned