Early Morning Analysis
The 4-hour chart shows consecutive bearish pullbacks, a MACD death cross has formed, and KDJ is neutral to bearish, indicating a potential continuation of the pullback to the 101,500 support level.
The daily chart shows a golden cross with decreasing volume, and the fast and slow lines are converging, warranting caution for further corrections, but the overall trend remains intact.
Options market impact: On May 16, $3.1 billion in BTC options will expire, with the maximum pain point at 100,000, which could exacerbate early morning volatility. Pay attention to Federal Reserve policies and SEC regulatory dynamics, as they may influence market direction.
Bitcoin Short near 104500-104000, targeting 103000-102000
Ethereum Short near 2600-2570, targeting 2500-2450.
