Bitcoin/Ethereum Operation Strategy and Market Analysis for 5.19

Bitcoin/Ethereum has been continuously declining from the previous high point and is now entering a narrow range of fluctuation. Our previous multiple reminders of short-selling ideas have been consistently effective in capturing downward space. Last night’s pullback followed by a short-term rally also unfolded as expected, which can be observed clearly. Currently, the rebound strength is not very strong. This kind of rapid decline followed by sideways consolidation is a perfect illustration of a continuation of the downtrend. The moving average resistance keeps moving downward, indicating that the trend remains weak. Both the weekly and daily charts have not stabilized. The resistance from the moving averages above is currently near 78,500 and 2,180. The short-term rapid decline has created some rebound demand but does not indicate a reversal; it is more about partial market correction.

Operation Suggestions: Enter short positions around 77,200 to 77,600 for Bitcoin, with targets near 75,000 to 76,000; enter short positions around 2,145 to 2,160 for Ethereum, with targets near 2,050 to 2,100, and a stop-loss at 78,500 and 2,190.