5.7 Wednesday Afternoon BTC/ETH Market Update

Bitcoin: Bulls Losing Strength, Focus on Short Positions

The afternoon market shows that the bullish momentum for BTC is gradually weakening, with 4-hour candlesticks continuously forming long upper shadows, revealing significant selling pressure above. The key resistance level of 980 has once again become a major obstacle to upward movement, closely resembling the pattern encountered during the May Day period. The MACD indicator shows a top divergence signal, increasing the risk of a short-term pullback.

Strategy: It is recommended to set up short positions during the rebound to the 968-973 range, targeting 954, with a stop loss set above 975, strictly controlling risk.

Ethereum: Under Pressure to Decline, Go with the Trend

ETH is currently facing strong resistance in the 1840-1860 range, and the continuous shrinkage of trading volume leads to insufficient upward momentum. In conjunction with the bearish trend of BTC, ETH may also decline in the short term.

Strategy: Short in the 1840-1860 range, target at 1720, stop loss set at 1870, operate with a light position, and be cautious of market volatility. #美联储FOMC会议