🍱May 14 Market Commentary.🍱
$BTC Opinion:
cpi data has also been released, but its reference value is limited since it is all revised data. I remember that in the past, within the first 10 minutes of releasing the cpi data, the market would dance around, bouncing back and forth.
The main asset broke through 103740 with significant volume, closing above 103740 on the hourly level, so go long on the right side; set a stop loss if it breaks down.
103522 broke down with volume and failed to recover on the right side, so go short; if it recovers, set a stop loss and watch for changes in trading volume, and be sure to set your stop loss.
At 102278, a false breakdown occurred, so add a light long position; if it breaks below 101385, set a stop loss. If it doesn't recover, avoid going long.
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On the hourly level, the main asset can stabilize above 104112 and continue to look up at 104691-105349.
For those looking to short, pay attention to 104415 above the main asset; if a 2b false breakout occurs, take a light short position. If it stabilizes above 105172, set a stop loss.
Conservative players should wait: long at 100668; if it breaks below 100, stop loss is a must.
The main asset surged again early in the morning but did not create a new high and was met with resistance from the Fibonacci 78.6 retracement level, causing a pullback.
If this time the 61.8 position cannot hold at 101725, it is highly likely to test 99744.
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Upper resistance: 104130-104626-105297
Lower support: 103067-102352-101468
On the 4-hour level, 102404 has been broken, looking at lower target positions: 101498-100638. Currently, the 4-hour high of the main asset is still declining and has not created a lower low.
If the main asset surges again but cannot break the previous high, a formal pullback begins; be patient and wait!
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$ETH Thought Process:
The secondary asset broke through 2644 with significant volume, go long on the right side; set a stop loss if it recovers.
2631 broke down with volume, so go short on the right side; set a stop loss.
A pullback to 2485 confirms effective support for an additional long position; set a stop loss if it breaks below 2449.
On the hourly level, if 2656 of the secondary asset breaks through, it will continue to challenge 2707-2741. The secondary asset's rise is concerning if the main asset doesn't break new highs.
For the secondary asset, watch for a short position at 2705; set a stop loss if it breaks 2740.
Left side orders: long at 2441; set a stop loss if it breaks below 2400.
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Upper resistance: 2656-2708-2745
Lower support: 2589-2526-2466
On the 4-hour level, if 2599 breaks down, look towards 2534-2481. When everyone thinks the main asset will reach 106000 or 110000, a polar reversal may occur, so pay attention to risks and conclude the meeting.
