Morning Operation Strategy on 5/7

Quick look, quick look!! Be prepared!!!

Overnight news:

1: The Federal Reserve purchased $20 billion in bonds.

2: New Hampshire passed a reserve bill, planning to acquire $2 - $3 billion in cryptocurrency annually.

3: The Dragon country is preparing to meet with the old America for negotiations, easing trade tensions.

The major cryptocurrency has strong rebounds driven by positive news, closing the daily line above 96,000 with a strong bullish candle. The current major structure remains bullish with a target of 100,000 - 102,000. In the short term, a rebound to the previous highs of 97,000 - 98,000 may face selling pressure. During the day, pay attention to the support level at 95,000; if it holds above, we continue to look bullish. Today, we will focus on related news from Powell in the early morning. If he makes dovish comments, it would be bullish for the major cryptocurrency, and if the daily line closes above 96,000, we will directly enter the fifth wave. If he makes hawkish comments and the close drops below 96,000, we will continue along the original planned white/blue route before attempting to break the 100,000 mark.

Ethereum has maintained a high-level consolidation for 15 days, with a long lower shadow on the daily line showing strong buying support at the bottom. We continue to look bullish while it operates above the support of 1,760 - 1,790. The market is likely to break through the resistance of 1,830 - 1,850, aiming for the target of 1,900 - 1,920.