DailyMarketUpdate 2025/05/02
📌 Today's Market Review:
🎯 $BTC First and foremost, at this position, the risk-reward ratio for going long is extremely poor. If you don't have a cost advantage from before, you should just wait for the direction to become clear before entering the market. If you have a cost advantage, you should reduce your position by half and bet on the future rise with the profits. ‼️ Remember, do not trade frequently at this position; control your actions to protect your profits.
📌 Currently, we are at the upper boundary of the H2 ascending channel's pressure range of 97.8K, and after the small triangle breakout and pullback on M15, we continue to break out, which can be seen as a behavior of accumulating power for a breakout.
🤔 Whether it can stabilize after the breakout is another question, so there are two possible scenarios:
💡 If it stays horizontal after breaking the boundary, and is accompanied by structure, it can continue to rise.
💡 If it cannot break through or cannot stabilize after the breakout, then a significant pullback will follow.
🎯 $ETH Currently, there is not much to say; we all need to watch Bitcoin's movements. The H2 ascending channel did not successfully break through yesterday, and we are still hovering at the upper boundary of the channel to accumulate power.
📬 Feel free to leave a comment about what varieties you want to see, let's find opportunities together!
