On May 10, the three major U.S. stock indices performed poorly this week (S&P 500 down 0.47%, Nasdaq down 0.27%), but BTC maintained an independent market performance, highlighting its safe-haven attributes.
1. Review of Yesterday
$BTC BTC: Yesterday's lowest point was $102815, highest point was $10500.1, fluctuation was $2239, with an amplitude of 2.13%
$ETH ETH: Yesterday's lowest point was $2318, highest point was $2603, fluctuation was $284.3, with an amplitude of 10.92%
2. Today's Analysis
BTC current quote is $104074, BTC price fluctuates in the $103,000-$104,000 range. The daily fluctuation range is $102,662-$104,000, with a 24-hour increase of about 1.89%. The daily chart shows that BTC formed a small bearish candlestick after breaking through $100,000 yesterday, continuing the high-level consolidation today, with trading volume decreasing by about 25% compared to yesterday, indicating a weakening of bullish momentum and an increased demand for short-term adjustments. The MACD indicator shows that bullish momentum remains strong, but the RSI is approaching the overbought area (not fully entered), presenting risks for a short-term pullback.
BTC Resistance: $104,500 is the recent high; if broken, it may further challenge $105,000-$106,000.
BTC Support: $97,000-$98,000 is a strong short-term support; if broken, it may test the Fibonacci 0.382 level (about $88,000).
ETH current quote is $2543, ETH price fluctuates in the $2400-$2450 range, with a 24-hour increase of about 1.4%. The daily fluctuation range is $2380-$2450, continuing yesterday's rebound momentum. The daily chart shows that ETH closed positively yesterday, with trading volume slightly increased compared to the previous day, forming a small bullish candlestick today, indicating a short-term bullish trend. The daily chart shows increased volume, indicating an advantage for bullish strength. The RSI indicator is around 60, not entering the overbought area, suggesting there is still upward space in the short term, but caution is needed for high-level pullback risks. The MACD shows an enhancement in bullish momentum, with the red bars expanding.
ETH Resistance: $2550-$2650 (intensive area from the beginning of the year).
ETH Support: $2300 is a strong short-term support (weekly key level), if broken, it may test $2268 or $2210 (intensive area for long position liquidation).
3. Summary
Today, Bitcoin entered a high-level fluctuation after breaking through $100,000, and it may consolidate in the $102,000-$104,000 range in the short term, with limited pullback space. In the medium to long term, supply tightening, institutional accumulation, and favorable policies support a bullish trend, but in the short term, caution is needed for overbought pullback risks. Weekend trading volume is insufficient; aggressive traders can engage in swing trading, while conservative traders should wait for a pullback to $100,000-$102,000 or a breakthrough above $104,365 before acting.
Ethereum price rebounded above $2500, stabilizing at the key level of $2500, with a clear bullish trend. The technical analysis shows further upward potential, but attention should be paid to resistance at $2550-$2600. In the medium to long term, the Pectra upgrade, DeFi ecology, and institutional accumulation support the bullish outlook, but short-term caution is needed for pullback risks after a rapid rise.
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