Happy weekend, brothers! The market is making moves in the middle of the night. This was mentioned in last night’s market analysis. Bitcoin dropped less than two points and didn’t even reach the first support level, while a bunch of altcoins collectively plunged. The trading volume is also expected to be low this weekend. Today, let's see the strength of the rebound. If it cannot break the previous high of 1045, it indicates that the rebound lacks strength, and the small level will still come down. Only by breaking through will the rebound strength be significant!
I always feel that Bitcoin will have a correction because it is in a triangular zone on the daily chart. When it will move out, I don’t know. If it breaks out, we also need to look at the previous high of 1058 and the bottom of 1007. If the top and bottom cannot break out, there is no way to have a big market. Yesterday's news mentioned that there would be a rate cut once this year. If there is really a rate cut, it is estimated to be after September. It is only May now, and during this period, there is a high chance of a deep pullback to explode the long positions, so brothers, it is crucial to set stop losses!
Today's market analysis:
$BTC Bitcoin is focusing on the level of 103630 today. Only if it stands firmly above this level on the 4-hour chart will the 4-hour correction end, and the market will start to rise again. Pay attention to the resistance levels around 104870-105860-107065!
If the 4-hour level cannot stand above 103630 today, it indicates that the small level rebound lacks strength, and we will continue to adjust to the support levels around 102540-101460-100670! (If the daily level breaks below 102540, then the daily level will start to correct.)
$ETH Ethereum broke below the second support level this morning and began to rebound. Today, pay attention to the level of 2537. Only if it stands firmly above this level on the 1-2 hour chart will the rebound start. Pay attention to the resistance levels around 2598-2640-2677!
If the 1-2 hour level cannot stand above 2537 today, it indicates that the small level rebound lacks strength, and we will continue to test the support levels around 2485-2450-2406!
$BNB BNB just touched the third support level this morning and began to rebound. Today, pay attention to the level of 647. Only if it stands firmly above this level on the 1-2 hour chart will the rebound start. Pay attention to the resistance levels around 654-660-667!
If the 1-2 hour level cannot stand above 647 today, it indicates that the small level rebound lacks strength, and we will continue to test the support levels around 640-634-628!
SOL just touched the third support level this morning and began to rebound. Today, pay attention to the level of 170. Only if it stands firmly above this level on the 1-2 hour chart will the rebound start. Pay attention to the resistance levels around 174-178-181!
If the 1-2 hour level cannot stand above 170 today, it indicates that the small level rebound lacks strength, and we will continue to test the support levels around 166-164-161!
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