News: U.S. Treasury Secretary Scott P. Bessenet stated on Sunday that if countries do not reach a trade agreement during the 90-day tariff suspension period, tariff rates will soon return to 'equivalent' levels. 'President Trump has warned them that if they do not negotiate in good faith, tariffs will rise back to levels seen on April 2,' Bessenet said on the program. Bessenet revealed that the U.S. is focused on finalizing agreements with 18 'important' trading partners, but did not specify the exact speed of the return to 'equivalent' tariff rates. The recent decline in Ethereum is a technical correction aimed at retesting key support levels before continuing to rise to $3,000 and higher. Crypto analyst Titan of Crypto stated that the weekly stochastic relative strength index (Stochastic RSI) is currently at 79, indicating that ETH 'still has momentum to continue rising.' Analyst Chimp of the North stated that Ethereum's downward space may be limited to $2,400 and indicated that Ethereum may continue to pull back and retest the $2,400 support level before rising again, targeting a range of $3,000 to $3,300.
May 19 Bitcoin (BTC) contract technical analysis: On the daily chart of the long cycle, the candlestick pattern shows a bearish candle followed by a bullish candle, with the price still at a high level, but the auxiliary indicators are currently showing a dead cross. The price faced pressure and pulled back in the early hours, continuing to break below previous lows, which is a clear signal. The lower point to focus on is still the previous support level around 100600. In the short-term four-hour chart, the candlestick pattern shows consecutive bearish candles, and the auxiliary indicators are showing a dead cross, indicating that the price is being suppressed quite clearly. The hourly chart shows a decline in the early morning continuing into the morning, with the current candlestick pattern showing consecutive bearish candles, and the auxiliary indicators showing a dead cross. The main focus today will still be on correction, with the moving average pressure at around 103500. Therefore, after the correction, we still need to look for a downward break during the European session. Thus, today’s BTC short-term contract trading strategy: short on a rebound in the 103500 area, stop loss at the 104000 area, target at the 102000 area.
May 19 Ethereum (ETH) contract technical analysis: On the daily chart of the long cycle, the candlestick pattern shows consecutive bearish followed by a bullish candle, with the price below the moving average and the auxiliary indicators showing a dead cross. This indicates that the downward trend is quite evident. Even though yesterday the price was influenced by news and surged before pulling back, it did not affect the fundamental trend and broke below the previous low, which is also quite evident. In the short-term trend, the price surged and faced resistance, pulling back before breaking below the previous low, with support rebounding for correction. The high point is around the 2515 area, and after facing resistance twice during the day, according to the trend rules, breaking below the low during the European session is highly probable. Therefore, today's ETH short-term contract trading strategy: short on a rebound in the 2405 area, stop loss at the 2435 area, target at the 2320 area.
Trading style - Conservative investor! Has unique research on the strength and time rules of patterns, possesses unique insights into trend judgment and reversal. In recent years, has been dedicated to large capital operations, possesses good psychological qualities and experience in leading trades, and has professional technical analysis skills and a systematic investment philosophy. Has long fought in the financial market and summarized several personal practical rules, successfully capturing tops and bottoms multiple times! Has unique insights into economic data, candlestick theory, moving average theory, indicator theory, pattern theory, wave theory, and cycle theory.
Never harbor a 'profit without capital' mentality, as it can easily lead to being bound by money and becoming its slave. In the face of high returns, investors should maintain a clear mind and not invest blindly. Investing is 30% technique and 70% mentality, indicating that the investor's mindset plays a dominant role in the trading process, so while learning techniques, we should spend more time training our mindset... Taking risks is unavoidable, but remember never to bet everything on one outcome.
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