5.16 Initial Thoughts Analysis in the Early Morning

The four-hour chart tested the bottom support and quickly welcomed the recovery of the comparison, fully reclaiming the profits lost during the intraday decline. Currently, it has entered a strong upward trend with three consecutive bullish candles, reclaiming the operational range of the comparison between the middle and upper bands. The recent sharp decline accompanied by a rapid rise has not further provided a breakthrough to the high point resistance; the upper band pressure is currently around 104800. If the comparison does not break above, there remains further downward space in the market.

On the hourly chart, after the golden cross of the indicators, it has reclaimed nearly 2000 points, and the KDJ is diverging upward, but the fast line has reached the oversold area, indicating a certain need for a pullback in the short term. In the early morning operations, we continue to maintain a bearish outlook.

Bitcoin can be shorted in the range of 104100-104700, targeting around 102000.

Ethereum can be shorted in the range of 2600-2620, targeting around 2500. #币圈 #区块链 #比特币走势分析