Bitcoin and Ethereum Cycle Analysis on May 6th

         Hello everyone, I am Da Shan. I focus solely on the trends of mainstream coins and provide daily cycle analysis. In the cryptocurrency world, when some people laugh, others will cry; I hope everyone is among the former! To my fan friends, I wish you all achieve your goals in the space!

           I want to remind everyone once again that you need to understand what cycle you are in and what you are doing! If you don't even understand what cycle you are in, you will panic when you lose, and you will also panic when you gain!    Looking at Bitcoin, as mentioned yesterday, there was a rebound at the bottom support level, but the strength was not strong, and it may test downwards again. Therefore, at this stage, it is still a period of patiently waiting for a better position. It has also been mentioned that it may need to continue to consolidate until significant news is released to break the deadlock! The article discusses medium to long-term layouts, and since we are in a consolidation state, I won’t elaborate too much on that; just be patient and wait!

      Now, speaking of Ethereum, it is the same; on the four-hour or daily chart, we are looking at the suppression of this descending trend line, and there has been no clear breakout signal, so we are still in a waiting phase! I’ll repeat what I said at the beginning: you need to know what you are doing at what level. For example, if you can't enter the market at the hourly level, and you see the four-hour or even daily chart and think it will go up, but you are actually looking to do short-term trading, if you go in with a large position, a drop on the hourly level could wipe you out, while the daily chart is still a bullish candle. Can you understand that?

      Playing in the cryptocurrency space is essentially a contest between retail investors and institutional investors; if you don’t have cutting-edge news or first-hand information, you can only get cut! 

   The article is time-sensitive, and the market changes in real-time; the specifics depend on actual trades, and the above suggestions are for reference only!

                       Investing carries risks; proceed with caution when entering the market. #BTC #ETH $BTC $ETH