🍇May 17th Afternoon Market View.🍇
$BTC Viewpoint:
The U.S. stock market is about to hit the 6000-point integer resistance level; is it not going to pull back? Where is the money coming from that is crazily pushing up U.S. stocks? Is something unusual happening?
Bitcoin has broken through the 103230 hourly level with volume and closed above 103230 on the right side; chase the rebound and set a stop loss if it breaks.
If it drops below 102673 with volume and cannot recover, chase the short on the right side, set a stop loss, and pay attention to changes in volume, and manage your stop loss well.
When it reaches 101426 and shows a false breakdown, recover with a light position and add one more; set a stop loss at the low of the false breakdown or at 100668. If it doesn’t recover, don’t add more.
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The hourly M-top for Bitcoin has also formed; for the M-top to play out more smoothly, it must break below the neckline. Only by breaking below the neckline can the hourly M-top be considered formed, and the drop will be smoother.
If Bitcoin can hold above 103326 on the hourly level, we can look upward to 104029-104648; if it hasn’t dropped fully, it will continue to drop.
For those who want to short Bitcoin, pay attention to the 104689 level where a 2B false breakout occurs; short with a light position. If it holds above 105226, set a stop loss.
Conservative players wait: long one at 100710, set a stop loss if it drops below 100,000.
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Upper resistance: 103657-104415-104920
Lower support: 102689-101720-100710
On the 4-hour level, if it drops below 102751, look downward to 101469-100673; since Bitcoin cannot hold, let it drop.
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$ETH Thoughts:
The second Bitcoin has broken through 2501 with volume; chase the long on the right side and set a stop loss.
If it drops below 2459 with volume, chase the short on the right side and manage your stop loss well.
On a pullback to 2411, confirm that support is effective and go long one more; set a stop loss at 2378 if it drops.
For the second Bitcoin on the hourly level, if it breaks through 2554 and holds, continue to look upward to 2601-2650; the second Bitcoin has been fluctuating back and forth these days.
Pay attention to the upper level of the second Bitcoin at 2567 to short one; set a stop loss at 2600 for a breakout.
Left-side order: long at 2324, set a stop loss at 2291.
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Upper resistance: 2558-2593-2622
Lower support: 2449-2406-2358
On the 4-hour level, if it drops below 2434, it needs to pull back to 2361-2317.
Continue to observe the daily level for the second Bitcoin; if tomorrow's daily closing price swallows the bullish candlestick circled in yellow, and the closing price is below this bullish candlestick, a pullback will begin.
And the speed of the pullback will also be very fast; this position rises quickly and drops even faster, meeting adjournment.