Morning Trend Analysis and Trading Strategy on 5/9

Bitcoin has perfectly reached the target level near 105,000, and Ethereum has also reached around 2,220.

Brothers, let's observe the dynamics below for the subsequent trend.

Bitcoin has been continuously rebounding at night, reaching the equal length target of wave 5 near 105,000. Currently, the larger structure's wave 5 has not yet shown a signal to shift from bullish to bearish. On a smaller scale, Bitcoin is showing overbought conditions, and momentum has weakened. It is expected that there will be a need for consolidation at the high level in the short term. Below, we can pay attention to the 100,000 mark, which is a short-term dividing line for strength and weakness. If it maintains upward movement after short-term consolidation, it will continue to challenge resistance levels.

Ethereum closed with a strong bullish candle on the daily chart, showing the expected rebound trend. The wave 5 that started from 1,400 has similarly not shown a signal to shift from bullish to bearish. The hourly indicators have become dull in the early session, and it is expected that after a high-level consolidation, if it does not break the strong and weak dividing line of 2,000 - 2,100, the market is likely to continue testing the high points. We need to pay attention to the resistance levels of 2,280 - 2,300; if broken, we can look towards 2,420.

Spot Strategy

Altcoins are showing the expected rebound trend, but the altcoin season is far from arriving. In the future, there is no need to deliberately focus on Bitcoin; the key is to pay attention to Ethereum's continuity, as it will be related to the rebound trends of altcoins. Temporarily hold the spot assets in hand; if there are coins nearing a doubling, you can cash out the principal and keep the profit for further positioning. If there are signs of a trend reversal during the consolidation, I will promptly remind you to carry out swing trading.