May 18 BTC/ETH Miken Strategy

Black Monday, the market worries about the U.S. restarting sanctions against Iran, since the adjustment began last Friday, the market has been resisting but not recovering. This kind of negative sentiment is very damaging, as every resistance level is eventually broken. To break the deadlock, acceleration is needed. An acceleration appeared in the early trading session, and Bitcoin and Ethereum also reached the oversold levels mentioned in previous posts. Therefore, intra-day should not be scared by what has already happened, nor worry about what hasn't happened. The first step is to organize information and verify whether the current acceleration signal has ended. Pay close attention to whether the U.S. is truly restarting sanctions plans.

BTC: Early trading touched the first level at 76,666. So far, there is no sign of a proper recovery. If the recovery does not hold, the next support level could be around 74,400. The 75,500-76,600 range is the second support zone, and 74,400-75,500 is the last support zone. If 74,400 is broken, it would be a black swan event with no bottom. In terms of operation, cautious attempts should be made based on the pinning signals, using the latest low points as defense for cautious trial and error. Bears can consider the space within the two support zones for positioning. (See chart for details)

ETH: The sideways platform in the night session has not broken through 2,197. An acceleration adjustment appeared in the early session. Currently, 2,075 is a support level, which can be used as a defense. Watch for secondary confirmation signals and consider catching the pin. The recovery target is 2,139-2,171. If 2,075 is broken downward, look for the range around 2,038-2,075, a zone familiar to veteran traders. The support effect here is very strong. (See chart for details) #Gate广场五月交易分享