Analyst Liang Qiu: Bitcoin/Ethereum Alternating Rise on May 23, Further Upside Potential

Bitcoin has entered a sideways consolidation phase since it rose to 112,000 yesterday, with a relatively small pullback, the lowest pullback only reaching around 110,400, showing a clear strengthening trend overall. Meanwhile, Ethereum has been continuously oscillating and rising during Bitcoin's consolidation period, exhibiting an alternating rise pattern, and further upward potential cannot be ruled out. In yesterday's article, it was repeatedly mentioned that the overall trend is strong, with a bullish outlook on the larger trend. In the absence of a clear downward break, short-term operations are the only option; Ethereum's lowest yesterday only pulled back to around 2,600 before rebounding, and it is necessary to be timely and flexible during the transition between long and short positions.

In terms of Bitcoin/Ethereum candlestick patterns, recent prices have fluctuated above 110,000 and 2,600, forming a bullish oscillation pattern. On the Bitcoin daily chart, a long upper shadow has appeared, indicating significant pressure above, but the lack of a clear pullback also suggests a consolidation phase, while Ethereum shows a clear upward movement. In terms of technical indicators, the MACD in the 4-hour cycle is in positive territory, but the histogram is shortening, indicating a weakening of bullish momentum and a potential entry into a correction phase, waiting for consolidation to complete before further upward movement.

Trading Suggestions BTC: Enter around 109,500 to 110,300, target around 112,800; ETH: Enter around 2,650 to 2,670, target around 2,750. Currently, Bitcoin has relatively limited overall space, while Ethereum is expected to catch up; breaking 2,750 may target around 2,850.

[The above analysis and strategies are for reference only; please bear the risk yourself. The article's review and publication may lack timeliness; please refer to real-time data for specifics.] #以太坊走势