#ETH
《Unemployment Benefits are Coming - Current Market Analysis》
It is an honor to witness with everyone the Bitcoin reaching a new historical high. We have also positioned ourselves sufficiently before this new high, and when to reduce our positions has become a question we need to consider now. Both Bitcoin and Ethereum are rebounding, and when they stabilize, it will be the time for altcoins to catch up. Once we see a significant increase at the daily level, it will be our time to reduce positions.
For the week ending May 17, the initial jobless claims in the U.S. were previously 22.9, with market expectations at 23, and the reported value at 22.7, which is a slight negative, but the impact will not be significant.
In the recent market trends, Taco's control over the trend has provided everyone with very precise hints. Last night at 10 PM, it was indicated that Bitcoin was on track to break a new high, and shortly after that, a strong surge followed.
Currently, many previous resistance levels are relatively weak, and once momentum starts, there will be a good rebound space. Whether the market will start from here still requires further observation. The probability of Ethereum catching up this round is quite high, and we can see the trend potentially reaching above 2900. Ethereum Layer 2 and the DeFi sector are also likely to see a good surge, which can be monitored.