May 17th Afternoon Bitcoin and Ethereum Market Analysis Mainly Bearish
Today's morning thoughts have been confirmed, with a public short position signal across the network this morning, allowing all partners to have profit potential.
In the morning session, Bitcoin's price fluctuated, slightly rebounding to the resistance level of $104,400 before facing pressure and retreating. From a technical indicator perspective, upward momentum has significantly weakened, with initial signs of a short-term top emerging. Based on this, it is recommended to maintain a high short strategy. Keep a close eye on the key resistance level of $104,400; if the price cannot effectively break through $105,000, investors can seize short-selling opportunities on rallies.
Specific operational recommendation for shorting on rebound:
Bitcoin: Short in the range of $104,000 - $104,500 with a target of $102,000
Ethereum: Short in the range of $2,530 - $2,560 with a target of $2,450
