Evening Thoughts on 5.16
In the 4-hour MACD indicator, the DIF line and DEA line are intertwined near the zero axis, indicating that the forces of bulls and bears are temporarily in a state of balance. It is worth noting that the MACD histogram has changed from negative to positive, suggesting a shift in short-term market momentum and the possibility of a rebound. However, given that the current price has not effectively broken through the volatility range, the overall trend direction still needs further confirmation. It is recommended to closely monitor the subsequent volume-price cooperation and breakthrough signals at key levels.
Bitcoin trading strategy: Short around 104500-105500 on the rebound, target 102500.
ETH trading strategy: Short around 2640-2670 on the rebound, target 2600-2570!
