The current market is not suitable for those who are too sensitive to operate, especially those traders who scream to the skies as soon as the price rises and worry about falling as soon as it drops. Yan Ling can only say please stay away from such a market; it may very well play tricks on you in the coming days. Yesterday's market was already very obvious in how it toyed with many people. Even if the coin price is about to start pushing up, it will still take time to bear the brunt. If you are eager to increase your trading frequency now, you will only be washed out more severely. In this phase of the market, just focus on support and resistance to arrange your entries and exits; it is actually quite simple and not that complicated. As long as you stand firm and don’t panic, you can hold onto your positions and reap quite a bit in these days.
In terms of market trends, Bitcoin currently shows strong bullish momentum on the 4-hour K-line chart. Although there was a significant pullback in the morning session yesterday, the price rebounded significantly during the evening session in the U.S. Currently, in the short term, the MACD indicator is continuously diverging above the zero line, indicating that the bullish trend is still ongoing, with no significant signs of weakening in the short term. The RSI indicator is currently likely in the overbought zone above 70, suggesting the risk of a pullback in the short term, but as long as it does not break below key support, the upward trend will continue to be maintained. The current coin price is above the 21-period EMA (Exponential Moving Average), with a short-term bullish bias. The EMA21 may provide dynamic support around the $100,000 mark. This rebound focuses on resistance at $109,600 (historical high), and once the bulls break through strongly, the next target may challenge the $110,000-$120,000 range.
Weekly Yan Ling's strategy for May 20:
1. Buy at 103,000-103,700, stop loss below 102,000, target 105,000-106,000, continue to look for an upward target around 107,000.
2. Sell at 107,000-106,200, stop loss above 108,000, target 104,800-104,000.
Weekly Yan Ling's strategy for May 20 for Ethereum:
1. Buy at 2,420-2,460, stop loss below 2,380, target 2,550-2,600, continue to look for an upward target around 2,680.
2. Sell at 2,700-2,660, stop loss above 2,750, target 2,550-2,500.