DailyMarketUpdate 2025/05/07
📌 Today's Market Review:
🎯 $BTC did not continue to decline as expected yesterday, 'it broke below the lower boundary of the large channel, rebounded and then continued to fall, first target: 92k'
This morning, stimulated by news, there was a strong surge, leading to a change in the expected market trend. It was previously mentioned that the secondary trading environment is becoming increasingly complex, and trading strategies need to be adjusted flexibly.
During the day, it rebounded to the resistance level of 97.3k, and we need to observe the subsequent trend. Will it form an M-top and maintain the downtrend, or will it break through the resistance level and continue to push toward 100k?
What can be confirmed is that at this position, both long and short positions are not suitable; the long position has a poor risk-reward ratio, and the short position is easily subject to a surge due to news when the U.S. stock market opens tonight.
🎯 $ETH also follows the same strategy, requiring observation of the resistance level at 1850, whether it will form an M-top and maintain the downtrend, or break through the resistance level and continue to push towards around 1920.
📬 Feel free to leave a message in the comments about the varieties you want to see, let's find opportunities together!
