🧀May 20th Afternoon Market View.🧀
$BTC Viewpoint:
From yesterday afternoon until the evening, the cryptocurrency market was still shrouded in the gloom of decline. By the evening, U.S. stocks opened and directly rallied step by step. It seems like nothing happened, yet it appears that a lot occurred. It seems Moody's downgrade judgment on America has no real power.
The crisis was alleviated by a call to action; it's essential to be a fence-sitter in the crypto space, being too stubborn can lead to breaks.
Bitcoin has broken through a volume of 106493, closing above 106493 at the hourly level; continue to pursue long positions on the right side, with a stop loss on a break.
106145 has broken down with volume, unable to recover; pursue short positions on the right side, with a stop loss on recovery. Pay attention to changes in volume and maintain a good stop loss.
At 104641, a false breakdown occurred; recover with a light long position. If it breaks 103846, set a stop loss. If it can’t recover, do not go long.
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What is a big V Dragon? This is the real big V Dragon; whatever it drops, it pulls back the same amount, but it seems to be just a little short.
Bitcoin can stabilize at the hourly level at 106922 and continue to look up to 107335-108204; with a little more effort, it can reach previous highs.
For those looking to short, pay attention to the false breakout at 107316 above Bitcoin; take a light short position. If it stabilizes above 108233, set a stop loss.
Conservative players wait: long at 102605, stop loss below 102000.
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Upper pressure: 106953-107843-108753
Lower support: 105012-104595-103669
At the 4-hour level, 105088 has broken down; look down to 104645-103610. Bitcoin's 2-hour level shows that this small pattern is genuinely standard! A direct double-bottom testing with the second downward jab not creating a new low, directly forming a butterfly pattern to take off, it is truly perfect.
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$ETH Thought Process:
Second Bitcoin broke through 2575 with volume; pursue long positions on the right side, with a stop loss on recovery.
2558 broke down with volume; pursue short positions on the right side, with a good stop loss.
On a pullback to 2450, confirm the support is valid for an additional long position. If it breaks 2413, set a stop loss.
Second Bitcoin can break through and stabilize at 2604 to look up at target positions of 2624-2653; first aim for 2600 before looking upward!
Above second Bitcoin, pay attention to 2651 for a short position; if it breaks 2687, set a stop loss.
Left-side orders: long at 2385, stop loss below 2345.
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Upper pressure: 2606-2650-2686
Lower support: 2513-2478-2427
At the 4-hour level, 2493 has broken down; look down to 2442-2385. If today we see another downward door being drawn, it could be lively; meeting adjourned.