ETH+BTC Order Summary (5.9)

Good evening, everyone. I am Chen Changsheng. ETH quickly retreated after reaching 2500, ringing an alarm for us. 2500 has significant resistance. The weekend is approaching; let's see if the weekend market can accumulate enough to break through 2500 next Monday. In the short term, Ethereum has experienced a serious correction, so avoid shorting Ethereum. Shift the target to Bitcoin. Bitcoin's performance has lagged behind Ethereum these past two days. If Bitcoin consolidates, the chances of Ethereum continuing to surge increase. Currently, the next resistance level for Bitcoin is in the range of 106000-108000. The next major threshold is 110000. I don't foresee it reaching near 110000. The peak of this wave is likely only 108000. Therefore, we can place our short orders around 106800-107500. The stop-loss can be set at the previous high, and everyone can manage their positions themselves.

Ethereum: I definitely won't take long positions without a pullback. Today's ten-minute drop of 130 points has already sounded the alarm. The current market does not favor the timid and rewards the bold. So, I am the timid one, hahaha. The short-term support for Ethereum on the 1-hour chart is around 2200. However, if this position experiences a pullback, it could signify a trend change, as the middle Bollinger band should not be broken. Once it breaks, the risk of going long increases significantly. A long position should be entered above the middle band, around 2236-2256, with a target set at 2550. Breaking the previous high does not necessarily mean it will continue to rise. I believe the market is more likely to lure long positions than short ones. Even the market aunties know when gold is profitable, it may be when capitalists are preparing to harvest retail investors! $BTC $ETH