$BTC Short-term strategy analysis for Bitcoin (BTC) and Ethereum (ETH) on May 8, 2025
Key levels and operational advice for Bitcoin (BTC)
Current trends and support/resistance
Price performance: Bitcoin is currently around $99,400, having briefly touched a high of $99,250 in the morning before slightly retreating, but still remains in a high volatility range.
Key resistance: The psychological barrier at $100,000 above, and on the technical side, attention needs to be paid to the validity of a breakout at $99,700 (Bollinger Band upper limit).
Support below: Short-term support is in the $97,600-$98,000 range (4-hour MA5 and Fibonacci 0.618 level). If it breaks below, a correction to the $95,300-$96,000 range (daily MA50 and Fibonacci retracement level) may occur.
Operational strategy
Bullish strategy: If the price stabilizes in the $97,600-$98,000 range, a staggered long position can be established, targeting $99,500-$100,000, with a stop loss set below $97,000.
Bearish strategy: If it fails to break through $99,700 and shows signs of stagnation at high levels (such as a long upper shadow or MACD divergence), a light short position can be initiated, targeting $97,000-$96,000, with a stop loss at $100,500.
Key levels and operational advice for Ethereum (ETH)
Current trends and support/resistance
Price performance: Ethereum is currently around $1,900, having briefly touched $1,925 in the morning before facing pressure and retreating, but it maintains a short-term upward channel.
Key resistance: The $1,880-$1,920 range above is the Fibonacci 0.786 retracement level and the weekly trend line resistance. A breakout here may challenge the $2,000 round number.
Support below: Short-term support is in the $1,850-$1,830 range (4-hour MA200 and psychological level), with strong support at $1,750 (daily neckline).
Operational strategy
Bullish strategy: If the price stabilizes in the $1,830-$1,850 range, a long position can be established, targeting $1,900-$1,920, with a stop loss set below $1,800.
Bearish strategy: If it repeatedly faces pressure around $1,920 with declining trading volume, a light short position can be initiated, targeting $1,850-$1,800, with a stop loss at $1,950.
Market risks and comprehensive advice
Macroeconomic risks: After the Federal Reserve's interest rate decision, market expectations for rate cuts have cooled, and caution is advised regarding the short-term impact of Trump's policies (such as tariff adjustments) on risk assets.
Capital flow: Bitcoin ETF continues to see net inflows ($421 million in a single day), but institutional interest in Ethereum is relatively weak. It is recommended to focus on BTC as the main direction and ETH as a secondary focus.
Technical divergence: BTC daily RSI is close to the overbought area, caution is advised when chasing long positions in the short term; if ETH fails to break through $1,920, it may continue its consolidation pattern.
Summary: Bitcoin is currently at a turning point; a breakout above $100,000 may trigger accelerated movement, but beware of false breakout risks; Ethereum needs to pay attention to the validity of resistance at $1,920. It is recommended to take light positions and strictly set stop losses to avoid excessive leverage.
(Note: Real-time market conditions may change rapidly, it is recommended to dynamically adjust strategies based on live data.)