May 14, Wednesday Afternoon Cryptocurrency Market Analysis:
Bitcoin (BTC) was priced around $10,400 at 8 AM, then surged to around $10,500 during the midnight period before facing pressure and falling back, reaching a low of $10,340, and as of the time of writing, it is fluctuating in the $10,370 range.
Ethereum (ETH) showed a similar volatile trend, opening at $2,678 in the morning, driven by bullish funds to reach a temporary high of $2,724, followed by a technical pullback to $2,620, currently rebounding to around $2,660 for consolidation.
Technical analysis shows that BTC's bullish momentum has weakened on the four-hour K-line chart, with the price retreating to the mid-band of the Bollinger Bands. The key resistance level above is at $10,520, while the important support level below is at $10,170; on the hourly chart, bullish strength has slightly recovered, with short-term support at $10,300 and resistance at $10,450.
In ETH's four-hour trend, the price fluctuation range is narrowing, requiring close attention to the effectiveness of the 2635-2660 USD support zone; the hourly chart shows that the MACD bullish momentum histogram has slightly expanded. If it breaks through the $2,680 resistance, it is expected to test the target range of $2,735-2,760.
Afternoon trading strategy recommendations:
Bitcoin: It is recommended to enter long positions in the $10,310-10,270 range, with target prices looking towards $10,470-10,510. Ethereum: You can gradually enter long positions in the $2,660-2,635 range, with the upper target set at $2,735-2,760.
