If you can't beat them, join them, but be cautious of pullbacks and the potential for a significant weekend correction! May 11th Bitcoin Auntie’s operating strategy
As of now, the May Day holiday has seen nearly a week of strong morning rallies, and today was no exception, with Ethereum breaking through the 2600 mark. Bitcoin also pushed against the 105000 line but did not break through. Ethereum's strength is primarily due to the market believing that it has not yet caught up, driven by capital influx! Last night's short position stop loss was set at the 2500 level and has been triggered!
From a technical perspective, the daily chart closed bullish again, finishing above the upper band, with the Bollinger Bands trending upwards. The cryptocurrency price is running above the moving average indicators, KDJ's three lines have crossed upwards, and currently, all three lines are in the overbought zone. The MACD lines are moving upwards, but trading volume is beginning to decrease. The daily chart indicates a need for a pullback tomorrow morning, and given that the decline on recent Sundays has been substantial, Conan suggests monitoring for a pullback today. Key resistance levels to watch above are 104500, 105000, and 106000, while support levels to monitor below are 103000, 102200, 101000, and the 100000 mark.
May 11th Bitcoin operating strategy: Short at 104500-104900, add positions near 105500, defend around 106000, target 103000-102500-102000-101000, if broken watch around 100000, continue to hold based on the situation!
May 10th Ethereum operating strategy: Enter short at 2560-2590, defend around 2630, target 2500-2480-2450, if broken watch around 2430-2400, continue to hold based on the situation!
Long position strategy: Bitcoin's 100000 is the battleground for long and short positions, look to buy on pullbacks at 100000-100500, stop loss at 99000, target 101000-102000-102500-103000, continue to hold based on the situation!
Ethereum intraday pullback at 2350-2400, enter, defend around 2320, target 2450-2480-2500, continue to hold based on the situation!
Ethereum has risen over 800 points for three consecutive days, while Bitcoin has only increased by about 8000 points. The increase in Ethereum clearly surpasses that of Bitcoin. If Bitcoin consolidates and then pulls back, Ethereum may also crash, so everyone should operate cautiously! The recent market fluctuations are significant; do not hold large positions and ensure to set stop losses to prevent liquidation! #山寨季何时到来 #山寨币交易 #BTC重返10万
