Monday, May 12, high-level continued fluctuations, beware of bears' attack

It's a new week again, and after continuous ascent, Bitcoin has finally reached our ultimate target of 105000 and has paused. Currently, the price is fluctuating at a high level, and we have been bullish all the way to this point, constantly reaping gains. Now that the upward movement has stopped, we will not chase too much at high levels, as a reversal may happen at any time. For the short term, we should adopt a bearish outlook.

Currently, although the overall structure of the daily chart is still bullish, there are obvious signs of pressure at high levels. The price has not broken through the resistance for a long time, so the bullish momentum will eventually be exhausted. Additionally, after a sustained rise, the market will always have a pullback, and with the current stagnation at high levels, we need to pay more attention to possible pullbacks in the short term, rather than just chasing after rises. Similarly, on the 4-hour chart, the price is continuously fluctuating at a high level, and the Bollinger Bands are showing signs of contraction, indicating that bullish momentum is gradually weakening. Therefore, the upward pressure will not be sustained. In short-term operations, we should maintain a bearish outlook!

On Monday morning, it is advised to short Bitcoin at 104500-105000, targeting the 102000-101000 line.

On Monday morning, it is advised to short Ethereum at 2520-2550, targeting the 2400-2300 line.