Evening Market Analysis on May 20
The one-hour candlestick chart shows a high-level consolidation pattern, having formed a small consolidation range. It is noteworthy that the recent long upper shadow candlesticks intuitively reflect strong selling pressure above and significant resistance. Meanwhile, the MACD indicator continues to operate in the negative territory, and the fast and slow lines are showing a downward crossover trend, which further supports the possibility of continued adjustment in the short term. This evening, we should still aim for high shorts.
Trading Suggestions:
Bitcoin: Range of 105800-106500, looking at 102000.
Ethereum: Range of 2540 to 2580, looking at 2450.