5.23 Early Morning Thoughts

On Thursday, the market showed a strong upward trend during the day, with both Bitcoin and Ethereum strengthening, and bullish sentiment was strong. Bitcoin's performance was particularly impressive, opening an upward channel in the early session and refreshing its historical high at 111,866 in the afternoon, subsequently maintaining a high-level consolidation. As the evening period began, after sufficient momentum build-up, the price once again surged to reach a second peak, demonstrating strong bullish momentum. Ethereum, on the other hand, displayed a unilateral upward trend, continuously rising to reach an intraday high of 2,692 in the afternoon before facing pressure and retreating into a technical adjustment. Overall, the market was active on Thursday, with major cryptocurrencies showing a good upward trend.

The four-hour chart continually closing in the green indicates abundant upward momentum. The technical pattern shows that once the price breaks through key resistance levels, it will trigger a substantial increase. This strong performance completely aligns with the expected development of the current trend structure. From an operational strategy perspective, we maintain our previous view: any pullback in the current market is an opportunity to go long; if no pullback occurs, it is recommended to enter long positions directly in the short term. The direct surge in the early session further reinforced bullish expectations for the future, with bulls still dominating the market. It should be noted that there may be technical pullbacks in the short term; however, it is essential to clearly distinguish between adjustments and the fundamental difference of a trend reversal. Currently, any pullback should be viewed as a process of bullish accumulation, and after the correction ends, the price is likely to regain its upward momentum. From a technical perspective, moderate pullbacks are actually beneficial for solidifying the foundation for upward movements, allowing for more sufficient momentum for subsequent breakthroughs.

Bitcoin can be bought at 110,000-110,500, targeting around 112,500.

Ethereum can be bought at 2,600-2,630, targeting around 2,720. #币安LaunchpoolHUMA #比特币突破11万美元 #BTC再创新高 #特朗普晚宴 #GENIUS稳定币法案