May 8 Bitcoin Ethereum Cycle Analysis
Hello everyone, I am Dashan. I focus solely on the trends of mainstream coins, providing daily cycle analysis. In the cryptocurrency world, when some people are laughing, others will be crying. I hope everyone is among the former! To my fans and friends, I also wish you all can achieve your goals in this circle!
Those who checked in before this wave of Bitcoin's rise should have benefited, right? This support level has been clearly marked for you, including the previous high point take-profit level, and then today it continues to rise, right? What is a bull market, what is direction, what is trend? From the current situation, it is very possible that we will touch the 100,000 mark today. When we look at the four-hour chart, if the four-hour close is like this, we can consider that the previous high has effectively broken. Looking at the daily chart, if today's daily close can end up like this, then it basically announces a continuation of the trend. Until there is a breakthrough of 100,000, anything is possible. If we can stabilize above 100,000, then we will continue to look at the previous high. Our previous expectation was given to everyone at the beginning of the year, the first wave of the overdue was a rebound around the bottom of 720, accurately predicting the rebound, and then it reached the previous high. Now it is moving a bit faster than expected. The current expectation is to see if we can touch the previous high by the end of June. No need to rush, just gradually move up. After touching the previous high, we will see some pullback actions, and then complete the breakthrough in the third and fourth quarters. This is a relatively good ideal trend.
Now looking at Ethereum, it is not as strong. The four-hour level has surged, breaking the oscillation range, and the trend has changed. The bearish trend has completely been reversed. Now we continue to watch the 2000 mark, and it may oscillate below for a while before slowly moving up. Once broken, we will continue to watch this rising trend line!
In the cryptocurrency world, it is essentially a contest between retail investors and institutional players. If you do not have cutting-edge news or first-hand information, you can only get cut!
The article is time-sensitive, the market changes in real time, and specific actions should be based on real trading. The above suggestions are for reference only!
Investment carries risks, and one should be cautious when entering the market. #BTC #ETH $BTC $ETH
