5.13 Tuesday Afternoon Bitcoin and Ethereum Market Analysis and Trading Recommendations

This morning, the market exhibited a typical range-bound oscillation. The Bitcoin price faced resistance and fell back from the 103080 level, dipping as low as the 101400 support line during the session, before receiving buying support that led to a technical rebound, overall oscillating around the range. The Ethereum market faced significant selling pressure at the 2499 level, followed by a technical correction, which reached a low point of 2414 before gaining support for a rebound.

From the perspective of technical analysis, on the daily chart, after a previous steady upward trend, we have recently seen two consecutive bearish corrections. Although the body of yesterday's bearish candlestick showed a downward trend, both the upper and lower shadows are quite prominent. On one hand, some bulls chose to take profits at higher levels, while on the other hand, during the correction process, buyers stepped in at lower levels, forming a pattern with resistance above and support below. Looking at the Bollinger Bands, although the price at the daily level has retraced, it still operates near the upper Bollinger band, with both the upper band and the middle band maintaining a stable upward trend, indicating that the current bullish trend has not fundamentally changed. On the 4-hour chart, the price has now fallen back to near the lower Bollinger band, showing a stepwise decrease during the correction, suggesting that the bearish momentum is gradually weakening. If effective support can be obtained at the current lower Bollinger band level, there is hope for a resumption of the upward trend in the future, continuing to look upwards this afternoon.

Bitcoin: Buy around 102000, short-term target 104000

Ethereum: Buy around 2410-2430, short-term target 2550