May 18 Morning Bitcoin and Ethereum Market Analysis

Yesterday evening, I told everyone not to rush into trading around 78,000, as the price first dropped from around 78,500 to about 77,800 for a brief pause, then gave a slight rebound early this morning, pushing the price back to around 78,400. Regarding this volatility, to be honest, many may find it hard to hold onto their positions. The resistance above is already quite evident, and it’s more prudent to follow the trend and trade accordingly at this point. Meanwhile, the "mistress" (a nickname for a certain asset or trader) can no longer hold back, breaking below the 2,100 support level first, with a new low of 2,085, which is not far from the target of 2,000 we discussed in our previous live session. Considering the current US-Iran situation, this is very likely.

Currently, on the daily chart, Bitcoin is continuously closing with red candles, gradually approaching the lower Bollinger Band. However, this recent decline is quite significant, and a rebound correction is expected in the near term. But based on this situation, the overall trend remains difficult to shake. On the 4-hour chart, the overall sentiment is bearish, with momentum not fully released yet. Although the KDJ indicator continues to diverge downward, the volume of the bearish move is shrinking. Therefore, there’s no need to rush into shorting now; instead, watch for the rebound space. The key resistance above is at 78,000. Given that previous rebounds have been weak and the willingness to support lower levels is not high, we will first watch the resistance at 2,250.

Suggestions:
Bitcoin in the 77,500-77,800 range for shorting, target breaking below 76,000,
"mistress" in the 2,130-2,150 range for shorting, target breaking below 2,080.