5.3 Bitcoin and Ethereum Market Analysis and Trading Strategy

As of May 3rd, the current price of Bitcoin is fluctuating narrowly between 96000 - 97000, forming a consolidation pattern. On May 2nd and 3rd, the K-line recorded longer upper shadows consecutively, intuitively reflecting significant selling pressure from above, with bulls facing heavy resistance for an upward breakout. From a technical indicator perspective, the MACD histogram continues to shorten, indicating that bullish momentum is gradually diminishing; the EMA7 and EMA30 moving averages are tending to converge, suggesting that the short-term direction is currently unclear, while the EMA120 moving average still maintains an upward trend, implying that the overall trend remains strong, but there is a risk of short-term adjustment.

The movement of Ethereum is highly correlated with Bitcoin, both entering a correction phase simultaneously. Based on the current market performance, the following intraday trading suggestions are provided: Bitcoin can be shorted near 96800 - 97300, targeting around 95000; for Ethereum, consider shorting in the 1830 - 1860 range, with a target price near 1760. It is important to note that the cryptocurrency market is highly volatile, and market fluctuations are severe. The views in this article are time-sensitive, and actual operations should rely on real-time guidance strategies, ensuring proper risk control and rational participation in trading. #加密市场反弹