🕸️ Midday market perspective on May 5th. 🕸️
$BTC perspective:
The important support level of 95500 was broken after grinding for a day. A sharp drop is not scary at all, because sometimes a sharp drop will stop.
However, a slow decline will not stop; it will rise for 15 minutes and drop for 1 hour, then rise for 1 hour and drop for 4 hours, and so on, slowly grinding downward. It may only slowly build a bottom and move upward after wiping out all the long positions. Therefore, a slow decline is the most annoying market behavior.
The large pie must break through 94250 with volume and close above 94250 at the hourly level to chase long positions on the right side, with stop loss on break.
When it drops below 93667 with volume and fails to recover on the rebound, chase short positions on the right side, and set stop loss on recovery; pay attention to changes in volume and maintain a good stop loss.
If a false breakdown occurs at 92558, recover and take a light long position; set stop loss at the false breakdown low or below 91862. If it cannot recover, do not go long.
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The large pie can only look upward at 95244-95786 if it breaks through 94736 at the hourly level; previous support has become resistance.
Those who want to short should pay attention to a 2B false breakout at 95736 to short one position; if it breaks and stands above 96580, set stop loss.
Conservative players wait for: long at 91656, stop loss below 90612.
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Upper pressure: 94485-95261-95779
Lower support: 93620-92775-91831
If the 4-hour closing price is below 93589, continue to look downward at 92881-91781; the decline may have just begun.
The hourly level shows that this large door is drawn quite standard, but it hasn't broken the previous low, so there’s nothing much to worry about.
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$ETH thought:
The second pie must break through 1800 with volume to chase long positions on the right side, with stop loss on recovery.
If it drops below 1781 with volume, chase short positions on the right side, with good stop loss.
When it pulls back to 1738, confirm effective support with a light long position; stop loss below 1700.
If the second pie breaks below 1800, it’s not a good thing.
The second pie can only look upward at 1837-1873 if it breaks through and stands above 1808 at the hourly level, which is somewhat difficult for the second pie.
Pay attention to 1842 for a short position above the second pie, with stop loss on break at 1872.
Left-side order: long at 1672, stop loss below 1638.
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Upper pressure: 1817-1842-1872
Lower support: 1779-1756-1722
The 4-hour level shows that 1783 has officially started the correction of the second pie; look at the target positions below 1744-1691. I hope everyone follows the trend and does not open positions against the market. Meeting adjourned.
