5.17 The pancake bottom successfully established, the final buying opportunity arrives as scheduled!
In the past 12 hours, large transaction data shows that major funds are clearly leaning towards selling, with a cumulative net outflow of 12.53 million. The latest three consecutive large market sell orders were densely executed around 102,900, with a total amount exceeding 3 million, indicating increased short-term selling pressure. At the same time, the price has broken below the EMA24 and EMA52 moving averages, further confirming the downward trend.
Currently, the RSI has fallen below the 50 midpoint, combined with the K-line forming a top distribution pattern, indicating weakened market sentiment and increased downward pressure. The behavior of major players and technical indicators provide dual confirmation that BTC may continue its correction trend.
After a long period of oscillation around 102,000 USD, a buildup has emerged centered around 102,000 USD. Investors are primarily focused on short-term investments, which can still form effective support at this level.
Trading Suggestions:
Go long at 102,500 for Bitcoin, with the first target at 104,000 and the second target at 106,000.
Go long at 2,550 for Ethereum, with the first target at 2,650 and the second target at 2,780.
