25/05/13 BTC shark pattern has been completed, on the night of the CPI data release, historical memory 519 is approaching
In April, the young master reminded that both Beautiful Valley and Bitcoin had a chance to test the completed shark pattern. Bitcoin has already reached 0.886; Beautiful Valley gapped up last night with a very good increase. On the 11th, it was reminded that Beautiful Valley is facing the end of the rise, very close to 0.886 and the rising trend line, so it needs to be observed whether a reversal will occur.
Bitcoin weekly has five consecutive bullish candles with an increase of over 40%. MACD crosses the zero axis, and the fast and slow lines intersect. In the short term, there is still a bullish trend. The daily shark pattern has completed, with a maximum touching 105863, which is 4000 points away from the previous high of 110000, with an increase space of 3.76%. For swing traders, especially for spot traders, there is no need to be too rigid in bottom fishing; just eat well. You can appropriately reduce positions and buy back during corrections.
Bitcoin
Given that Beautiful Valley rebounded strongly yesterday, Bitcoin is still affected. It has been pulled up ahead of the CPI release; pay attention to whether there will be a spike near 106000, and here it may oscillate for a few more days.
The 4-hour rising channel has been broken; if the rebound cannot return to the rising channel, there is a risk of continued decline. However, do not expect too deep a correction unless an unexpected event occurs. Pay attention to the daily rising trend line.
Support: 92000—96500—100678
Resistance: 110000
Ethereum
Ethereum and altcoins are still taking turns to rebound. Next, continue to rebound and focus on short-term trading. Many people see Ethereum rebound by dozens of points over a few days and think Ethereum is performing well. Ethereum is still a rebound from an oversold condition; pay attention to the large fluctuations in the past two years of 50—80%. At other times, it either oscillates or corrects.
The daily line has been continuously supported around 2400. First, pay attention to this platform support and watch for a pullback opportunity around 2100—2200.
Support: 2100—2200
Resistance: 2856—3200
