5.7 Wednesday Afternoon Analysis of Bitcoin
From the current market observation, the bullish momentum shows signs of weakening, with the 4-hour candlestick forming a clear upper shadow pattern. It is worth noting that there is strong resistance at the 98000 round number, which resonates technically with the price trend during the May Day holiday. It is recommended to adopt a short-selling strategy on rallies for intraday trading.
For Bitcoin, the 969-972 range suggests a short position, with a target down to the 954 range.
For Ethereum, the 1840-1860 range suggests a short position, with a target down to the 1720 range.
