🌟5.12 BTC and ETH Market Analysis
1️⃣ Bitcoin
We are observing the upper edge of the gradually narrowing price channel, focusing on the daily levels of 106400 and 108400, as well as the resistance at the top of the range. If it can break through effectively, it may surge to touch 113850. The support below is also observed at the lower edge of the price channel, around 102500, which should not be overlooked. A better buying point is in the range of 97700~95700, where the bullish trend started.
2️⃣ Ethereum
For Ethereum, we are closely watching the upper resistance area near 2850 and the lower support area at 2100. Ethereum is highly volatile, so position management must be done carefully. The main focus for smaller level support is near 2435, which is also our profit-taking point for the short position from yesterday.
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