Dear friends, happy May Day holiday! The GDP data released yesterday brought negative impacts, and the market exhibited typical technical volatility characteristics.

The prices of Bitcoin and Ethereum briefly broke the trend line in a small-scale movement, quickly harvesting the stop-loss orders below and then rebounding rapidly, completing a standard short squeeze. The current key resistance level in the market still points to the liquidity accumulation area around 958, which serves as an important pressure point, carrying a large number of trapped positions and profit-taking orders from earlier.

From the perspective of market capital flow, the current price range has accumulated considerable liquidity. If this week we can effectively touch and digest this portion of chips, the subsequent market may welcome a deep correction. Based on this, the intraday trading strategy still focuses on short positions, but strict stop-loss settings are necessary to avoid unnecessary losses due to short-term fluctuations.

Bitcoin rebound: layout short positions in the 953-958 range, with a short-term target at 930 USD; if the price effectively breaks below 930 USD, the target can be further lowered to 918 USD.

Ethereum rebound: layout short positions in the 1820 - 1840 range, with the first target at 1780 USD; if the price successfully breaks through the 1780 USD support, one may consider looking towards a deeper support level at 1720 USD.