May 18th Bitcoin and Ethereum Market Analysis


Bitcoin is currently consolidating around $76,800, dragged down by panic caused by the inauguration of the new Federal Reserve Chair Powell, leading to a market decline. Tomorrow, Powell will deliver a key speech, with bullish and bearish forces evenly matched, likely bringing a new round of volatility. There is technical support near the middle of the channel. If the current low cannot effectively stop the decline, the market is likely to further test below $74,000. $75,500 is a critical support level; once broken, the short-term trend will shift from bullish to bearish.
Regarding Ethereum: (ETH) has no obvious support below, with significant spot outflows. Each new resistance level formed during sideways trading is a new obstacle, and the weakness continues; #加密市场下跌15万人爆仓
BTC0.06%
ETH-0.06%
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