5.23 Bitcoin/Ethereum Alternating Uptrend May Still Have Upside Potential $BTC $ETH

Bitcoin has entered a sideways consolidation state since it was pulled up to 112000 yesterday, with relatively small retracement, the lowest retracement only reaching around 110400, and the overall trend has significantly strengthened.

At the same time, Ethereum has also been continuously rising during Bitcoin's consolidation period, showing an alternating uptrend pattern in structure, and it cannot be ruled out that there may still be further upward potential. As mentioned yesterday, the overall trend is strong, and the larger trend looks bullish. In the absence of a significant downward break, short-term operations are the only option. Ethereum's lowest retracement yesterday only dropped to around 2600 before starting to rebound, requiring timely flexibility in the process of changing between long and short positions.

In terms of Bitcoin/Ethereum candlestick patterns, recent prices have fluctuated above 110000 and 2600, forming a consolidation upward pattern. On the Bitcoin daily chart, a long upper shadow has appeared, indicating significant pressure from above, but the lack of a clear retracement also suggests a consolidation phase to gather strength, while Ethereum has shown a clear rise.

In terms of technical indicators, the 4-hour MACD is in positive territory, but the histogram is shortening, indicating that bullish strength is weakening, and it may enter an adjustment phase, waiting for consolidation to finish before rising again.

Trading Recommendations BTC: Buy around 109500 to 110300, target around 112800; ETH: Buy around 2650 to 2670, target around 2750. Currently, Bitcoin's overall space is relatively small, while Ethereum is seen as having potential for a rebound, breaking through 2750 may see it reach around 2850.

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