🦭Market Insights for the Afternoon of May 8th.🦭
$BTC 's View:
The Federal Reserve's interest rate decision has been announced, maintaining the original rate, and Powell's speech was, as before, a masterclass in Tai Chi. However, this time Powell's speech is not considered hawkish, leaning towards neutrality.
Bitcoin's trading volume broke through 98686, with the hourly closing price above 98686, continue to add long positions on the right side, stop loss if it breaks.
When 98197 breaks down with volume but cannot recover, continue to short on the right side, stop loss if it recovers; pay attention to changes in trading volume and ensure stop losses are set.
At 97299, a false breakdown occurred; if it recovers, it’s safe to add a light long position. Set a stop loss at the false breakdown low or if it breaks 96495; if it doesn't recover, do not go long.
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If Bitcoin can break and hold above 99532 on the hourly chart, it will aim to challenge the upper target levels of 100200-101272, and then it will return above 100,000, but it must hold above 99532 first.
For those wanting to short at high levels, be cautious of a 2B false breakout at 99505, add a light short position. If it breaks and holds at 100307, stop loss is a must.
The level at 99505 is worth taking a shot at a short position, even if it hits the stop loss, it’s worth the gamble because there are many trapped positions at this level. Think differently: if you were trapped at 99505 for a few months, would you run if it came back today? If it were me, I would definitely run; I don’t want to be trapped for another few months.
For conservative players, wait to go long at 96300, with a stop loss below 95700.
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Upper resistance: 99451-100254-101325
Lower support: 97721-96294-95751
If the 4-hour level breaks below 97493 and cannot recover, expect a pullback, looking down at 96183-95774-94382. In the current market, do not fomo; wait patiently, otherwise you might get trapped.
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$ETH 's View:
Altcoin's trading volume broke through 1869, continue to add long on the right side, stop loss if it recovers.
At 1838, a volume breakdown occurred; continue to short on the right side, ensure stop losses are set.
Upon retracing to 1808, confirm the support is valid and add a light long position, with a stop loss below 1780.
If the altcoin can break through the previous high of 1872, look up towards 1895-1929. The altcoin is currently being pulled up by Bitcoin, and if the exchange rate can cooperate a bit more, that would be better.
Watch for an opportunity to short at 1927, with a stop loss at 1957.
Left side orders: Long at 1738, with a stop loss below 1700.
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Upper resistance: 1890-1931-1977
Lower support: 1850-1815-1781
If the 4-hour level breaks below 1812, look down at 1777-1733; meeting adjourned.