May 12 Market Analysis
$BTC broke through the key resistance level of 105,000, with an intraday increase of 0.85%, continuing the upward trend since May. Technical indicators show that the MACD histogram's negative values are narrowing, but a golden cross has not yet formed, and the RSI is approaching the overbought zone at 70.
Support level at $104,000, resistance level at $106,400, with institutional funds continuously flowing into spot ETFs, alongside expectations of U.S. Bitcoin strategic reserves.
$ETH is experiencing a short-term pullback but still has support, with a daily drop of 1.83%, maintaining a range of $2,400-$2,600, and technical indicators show accumulation of bullish strength, while Pectra upgrades and institutional Layer2 layouts provide fundamental support.
Short-term support at $2,435, resistance at $2,635, and if broken, it could rise to $2,800.
Market sentiment is in a greedy state, and caution is needed for overbought pullbacks, as miners' positions have hit a new low, reflecting a cautious attitude from large funds.
Recently, I plan to ambush a potential coin that is ready to explode, doubling it is quite easy, with an expected potential of over 10 times, if you want to keep up, like + comment, and I will share for free!
