Evening Thoughts on May 15
During the midday session, Bitcoin and Ethereum showed a downward volatile trend. The price of Bitcoin continued to decline, with an intraday low near 101700, while Ethereum also reached a low around 2515, indicating significant overall fluctuation space. From a technical analysis perspective, the current MACD indicator for Bitcoin has formed a death cross pattern. Although the green momentum bars show signs of contraction, the RSI indicator is approaching the oversold zone, suggesting a possible short-term rebound opportunity; however, the overall bearish trend still dominates. In the 4-hour period chart, the price is operating below the middle band of the Bollinger Bands and has formed a top formation structure, indicating an increased risk of potential retracement.
Bitcoin Trading Strategy: Sell on rebound around 102500-103800, target near 100000.
Ethereum Trading Strategy: Sell on rebound around 2570-2620, target near 2480.
During the midday session, Bitcoin and Ethereum showed a downward volatile trend. The price of Bitcoin continued to decline, with an intraday low near 101700, while Ethereum also reached a low around 2515, indicating significant overall fluctuation space. From a technical analysis perspective, the current MACD indicator for Bitcoin has formed a death cross pattern. Although the green momentum bars show signs of contraction, the RSI indicator is approaching the oversold zone, suggesting a possible short-term rebound opportunity; however, the overall bearish trend still dominates. In the 4-hour period chart, the price is operating below the middle band of the Bollinger Bands and has formed a top formation structure, indicating an increased risk of potential retracement.
Bitcoin Trading Strategy: Sell on rebound around 102500-103800, target near 100000.
Ethereum Trading Strategy: Sell on rebound around 2570-2620, target near 2480.
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BTC
103,946.03
+0.68%
ETH
2,570.56
-0.58%