Gu Jingci: 5.24 Bitcoin/Ethereum Evening Trading Strategy and Market Analysis



Bitcoin/Ethereum rebounded again after yesterday's decline, with an early high near 21,500 and 77,500 before pulling back, with clear resistance above. The latest 4-hour candlestick is a bearish candle with a long upper shadow, indicating heavy selling pressure above and that the bulls' rebound is encountering resistance. It also failed to sustain the upward move and was engulfed by a bearish candle, forming a potential bearish reversal signal. The technical indicators DIF and DEA are both below the zero line; although DIF is above DEA, the gap is narrowing. The MACD histogram has shifted from positive to negative, showing weakening bullish momentum and a risk of a death cross. Currently, the market's decline has not ended, and there is further room for downward movement.

Evening trading suggestions: Short near 76,500 to 77,000 for Bitcoin, with targets around 74,000 to 75,000; short near 2,100 to 2,120 for Ethereum, with targets around 2,020 to 2,050, and a note of 78,000 and 2,150.
BTC0.08%
ETH-0.51%
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sheSh
· 20h ago
Just charge forward 👊
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sheSh
· 20h ago
Been in contact all along, very impressive.
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Long-ShortEquityStrategyMaster
· 20h ago
Must succeed
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Long-ShortEquityStrategyMaster
· 20h ago
If it succeeds, I'll be out of trouble. Last night, I added a heavy position on a low point of Needlepoint, with an average price in the forties, and I don't dare to add more 😰. Sigh, I haven't eaten anything all day, and I'm feeling irritable.
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Long-ShortEquityStrategyMaster
· 20h ago
Just charge forward 👊
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