Sunday Night Bitcoin and Ethereum Latest Market Analysis and Weekly Summary
Another week has quietly passed, and we have crossed the monthly line, already entering May. Let's analyze the market direction for the future. We accurately predicted the pullback point at noon, and the current market has already reached around the 95600 line for consolidation. Today, we will see if this area can convert the previous resistance into support. Next week, we will continue to welcome a wave of recovery; conversely, a pullback may occur. However, from the current trend, the bulls still dominate. Our evening strategy remains to buy on pullbacks.
From the weekly chart of Bitcoin, we see a four-week bullish streak, which has broken the previous downtrend. Currently, there is still upward momentum for short-term recovery. In contrast, Ethereum's weekly chart has only shown a two-week bullish trend, and the uncertainty of the second bullish candle is too high. For now, we can only say that the downward momentum has temporarily halted, and we are in a phase of market contest between bulls and bears. If Ethereum can follow Bitcoin's upward recovery trend, we can welcome this wave of a major bull market.
Trading Suggestions:
Buy Bitcoin in the range of 95000-95300, with a target around 99000;
If it breaks below the key support point of 95000, we will consider reversing to short.
For Ethereum, buy in the range of 1770-1800, with a target around 1900.
