5.15 Morning Analysis of Bitcoin, Ethereum, and Silk Road:
From a technical perspective, the current market is in a state of consolidation, with a standoff between bulls and bears.
On the 4-hour chart, the MACD indicator shows the dual lines below the zero axis, with bears currently in control; however, the distance between the lines is narrowing, indicating a significant weakening of downward momentum, and the market shows signs of a rebound.
The RSI indicator is approaching the overbought zone but has not reached extreme levels, suggesting that bulls have a slight advantage but the market is not overheated yet.
Going forward, it is crucial to monitor whether the RSI can break through key resistance levels to confirm an upward trend.
In summary, the morning advice is to take short positions on rallies to seize potential rebound opportunities.
In terms of operations:
- Bitcoin: Bearish in the range of 103800 - 104500, with a target of 101000.
- Ethereum: Bearish in the range of 2640 - 2660, with a target towards 2550 - 2500.
