TC Market Analysis 5.10 Flight Analysis BTC, ETH, BNB, SOL
From the current situation, Bitcoin is only a little over 5 points away from its previous high. In my personal analysis, the risk at this point is greater than the potential profit. After all, it is still uncertain whether interest rates will be cut next month. Before the expectation of a rate cut is realized, there is a high probability of a market correction. Therefore, it's more prudent to wait patiently.
Some altcoins are expected to see a rebound. However, it is important to note that once Bitcoin starts a pullback mode, those who are keen on trading altcoins will need to run faster than others. After profit-taking, the correct action is to reduce positions in batches during the upward trend, rather than waiting until seeing profits retreat during a downward trend to hurriedly reduce positions; otherwise, profits will indeed decrease. This round of increase is mainly attributed to panic buying driven by favorable news. As for chasing highs, I dare not agree. Observing from the weekly chart, there have been five consecutive bullish candles. For those who like to chase after rising prices, it might be better to wait for a pullback before entering the market. Even a small pullback is much less risky than chasing highs during an upward trend. After all, missing an opportunity means just not making a profit, but making a wrong move results in actual losses.
BTC is currently showing a top consolidation on the 4-hour chart, and it has also started to enter a consolidation phase on the 1-2 hour chart, indicating a lack of market liquidity and insufficient trading volume. Upper resistance level: Today, pay attention to the top of the consolidation area at 104365 and the previous high at 104365. If the price breaks above the top of the consolidation area, further attention can be given to the area around 105300 - 106400 - 107200.
Lower support level: The bottom of the consolidation area at 102360 is a key support level. If the price falls below this position, it may lead to a pullback on the 4-hour chart, and if it continues to decline, lower support levels to watch are around 100900 - 99200 - 97700.
ETH is currently also in a top consolidation state on the 4-hour chart. Key positions and response strategies: Upper resistance level: Today, pay attention to the top of the consolidation area at 2389. If the price breaks above this position, further attention can be given to around 2435- 2490 - 2550.
Lower support: The bottom of the consolidation area at 2270 is an important support level. Once this position is broken, it may lead to a pullback on the 4-hour chart, and if it continues to decline, lower support levels to watch are around 2205 - 2155 - 2110.
