5.13 Morning Thoughts
The four-hour level has seen a high followed by a pullback, with three consecutive bearish candles. The MACD momentum bars at the four-hour level are contracting, indicating an intensification of the tug-of-war between bulls and bears. However, the daily EMA moving averages still show a bullish arrangement. After a pullback, there may be an accumulation of upward momentum, but currently, there is significant resistance above, so the ongoing fluctuations do not represent a structural change. The market remains in a weak structure, so the strategy should primarily focus on shorting during rebounds!
Bitcoin: Short near 103200-102700, targeting 101000-100500
Ethereum: Short near 2490-2470, targeting 2400-2380
