5.12 Monday early morning Bitcoin and Ethereum market analysis and trading suggestions

The road to a bull market may be rugged, but only belief and discipline can help us sail forward! The market fluctuates like tides, and the game between bulls and bears holds the key to wealth. The current volatility is just gathering momentum for the next charge. Maintaining discipline is essential to capture the opportunity for a breakthrough! In the intra-day market, during the morning session, Bitcoin encountered short-selling attacks at the resistance level of 105000, causing the price to fluctuate and fall back, reaching a low point of 103283. Subsequently, the bulls launched a strong counterattack, ultimately touching the high point of 104875, forming a standard technical pattern of bottoming and rebounding. The same goes for Ethereum, which peaked at 2608 in the morning before dropping to a low of 2452, then rebounding in the afternoon, reaching a maximum of 2534. Xiaoge demonstrated his unique market insight once again, showcasing his accurate predictive power and providing a thought process that has been realized.

From a technical analysis perspective, the short-term market shows a strong fluctuation pattern. The daily price trend runs closely along the upper band of the Bollinger Bands, indicating strong bullish momentum. However, caution is still needed regarding the risk of overbought conditions. On the 4-hour level, a noticeable convergence pattern is beginning to emerge, with the distance between the upper and lower bands of the Bollinger Bands continuously narrowing, forming a gradually tightening channel, while the middle band remains relatively stable. This convergence pattern typically appears during a phase of reduced market volatility when the forces of bulls and bears tend to balance out. The mid-term trend remains within a wide range of fluctuations, adopting a strategy of selling high and buying low during the early morning.

Bitcoin: Buy near 103500, short-term target 105500

Ethereum: Buy near 2450, short-term target 2530