5.12 Trend Analysis

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Bitcoin

Bitcoin has entered a top consolidation phase after starting to rise at the daily level. The key resistance level at 105000 has been tested three times without a breakthrough, indicating that this position is a very strong 'hard top'. If the market wants to rise further, it must strongly break through this resistance level. Otherwise, the market is likely to experience a correction, even if it is only a minor correction.

From the 4-hour level, the bottom of the first consolidation area after this wave of Bitcoin's rise is at 102300. As long as the price does not drop below 102300, the bullish trend still exists. However, if it drops below 102300, the market may further explore downward, and attention should be paid to the two important support levels at 100100 and 99100 below.

Today's Trend Analysis:

After Bitcoin tested the first support level at night, it began to correct. The focus today is on the position of 104150. If the 1-2 hour level can hold above 104150, then the market is expected to continue rising and challenge the top, with attention to the previous high of 105200. Once it breaks through 105200, the market is expected to further explore up to 106380, 107255, and around 108330.

On the contrary, if today it cannot break through the previous high of 105200 and falls below 104150, then the 1-2 hour level will enter a correction mode. The support levels below can be sequentially focused on 103330, 102350, and around 100950.

Ethereum

Ethereum had the most significant increase last week, with its daily level top around 2600. If it cannot effectively break through 2600, the market is likely to face a correction. The strong support levels below for this week are 2435, 2275, and 2160.

Today's Trend Analysis:

Ethereum began to rise after breaking the first support level at night. The focus today is on the position of 2501. Only when the 2-4 hour level closes above 2501 can this wave of hourly correction possibly end, and the market can continue to rise. The resistance levels above can be sequentially focused on 2555, 2605, and around 2660.

Conversely, if today the 2-4 hour level closes below 2501, then the 2-4 hour level will enter a correction mode. The support levels below can be sequentially focused on 2461, 2420, and around 2381.