5/17 BTC, ETH Daily Insights and Trading Suggestions are here

I'm here again to recommend contract trades

It has been almost a day since the profits from yesterday's trades

So how should we operate next? First, from the K-line, we can see that BTC quickly rebounded after reaching the support level around 1012, touched the first resistance level around 105, then fell back to between 1026/1035, still not breaking out of the narrow range, nor has it broken through the resistance level. Therefore, as long as it does not break the strong support, it remains a bullish trend, and the main strategy is still to buy on dips and follow the trend.

If there is an opportunity to pull back to the range between 1015 and 1005, it will still be a good opportunity for the bulls to enter. The stop loss should be placed between 995/990 (to prevent stop loss due to false breakouts and to avoid being trapped in high positions from trend reversals). The first take profit level is still above 1035.

Next, let's talk about Ethereum. Previously, I usually only traded Bitcoin and rarely traded Ethereum because the technical analysis of Ethereum is not as stable as Bitcoin's based on the K-line.

The 1h line of Bitcoin has not yet broken yesterday's low, which is the short-term support level on the 1H line. However, Ethereum has already broken 247, and there was a false breakout followed by a rise. If you trade Ethereum for too long, you may miss out on Bitcoin trades because you always want to enter after a false breakout. For example, yesterday another blogger said to enter at 1005, I said to enter at 1015, I got in, but the other blogger did not, so it seems they have traded Ethereum too much.

Based on the K-line, Ethereum has a support level at 240. Friends who like to go long can place a long order between 240/230, with a stop loss at 225. The take profit target is 274, and the leverage should not exceed ten times, because sometimes I feel that technical analysis for Ethereum is not as good as Bitcoin; it's like a smaller version of an altcoin, often experiencing false breakouts followed by upward movements.

So I suggest that if you really want to trade contracts, you should trade BTC. The above is today's contract view, not a 100% win rate, trading should be cautious, with low leverage and stop loss.