5.20
Midday Analysis
Based on the current market situation, the four-hour level shows that the price has risen for two consecutive candles to just below the upper Bollinger Band, where the upper Bollinger Band has provided some resistance, preventing bullish momentum from supporting a further price breakout. From the one-hour level, the market is exhibiting alternating small bearish and bullish movements, with both bulls and bears pulling against each other, but neither side has moved out of a larger range. However, the KDJ indicator's three lines are converging at this level and showing signs of turning downwards, and all three KDJ values have entered the overbought zone, leading to a higher expectation of a market pullback. Therefore, we should maintain a bearish bias in our morning operations.
$BTC Bitcoin can be shorted around 106600-106900, with a target of 105500.
$ETH Ethereum can be shorted around 2542-2572, with a target of 2445.
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