5.8 Bitcoin and Ethereum Afternoon Trading Strategy

After the Federal Reserve kept interest rates unchanged, the cryptocurrency market experienced a lackluster overnight performance. Although there was a surge in the morning, the momentum was insufficient, and a significant correction is expected in the future.

From a technical perspective, Bitcoin has recorded three consecutive daily gains, with a long lower shadow, the Bollinger Bands are converging, and the KDJ indicator is showing a golden cross upwards;

The MACD dual lines are tightly bound at a high level with diminishing volume, indicating signs of a high-level consolidation and potential for an upward move.

In the afternoon, it is recommended to short at highs with strict stop-loss settings:

- Bitcoin: Short in the range of 99500-100000, target price 98000-97000

- Ethereum: Short in the range of 1920-1950, target price 1800-1750