🍕Market Insights on May 21 at noon.🍕
$BTC 's opinion:
I must say that the support of the 50-day EMA on the 4-hour chart for Bitcoin is really strong. Just look at how many times the 50-day EMA has supported it on the 4-hour chart. There was only one false breakdown at the position circled in white, and the next 4-hour candle quickly recovered.
Bitcoin broke through 106509 with volume, and the closing price on the 4-hour was above 106509, so I recommend chasing long positions. Set a stop loss on a breakout.
When it broke down below 106156 with volume and couldn't recover, I recommend chasing short positions on the right side, but set a stop loss if it recovers. Pay attention to changes in volume and set proper stop losses.
At 105489, a 2B false breakdown occurred, so take a small long position. Set a stop loss at the low of the false breakdown or if it breaks below 104634, and avoid large positions if it doesn't recover.
🍕
After Bitcoin reached a high on the hourly chart, it formed 6 consecutive doji candles, indicating that there is significant divergence at the 107300 level. Without major positive news, it will be difficult to break through in one go.
If Bitcoin can hold above 106844 on the hourly chart, we can look towards 107800-108822. If it cannot hold, expect some oscillation first.
For those looking to short Bitcoin at a high level, be cautious of a 2B false breakout at 107800 and take a small short position. Set a stop loss at the breakout of 108787.
Conservative traders should wait: long at 104178, with a stop loss below 103287.
🍕
Upper resistance: 107279-107800-108752
Lower support: 106350-104977-104046
On the 4-hour chart, if it breaks below 105866, look downward to 104993-104120.
The high point created by Bitcoin early this morning is only 2700 dollars away from the previous high of 110,000. Will it touch this point?
🍕🍕🍕🍕🍕🍕🍕🍕🍕🍕
$ETH 's thoughts:
For Ethereum, break through 2534 with volume and chase long positions on the right side, setting stop losses.
When it breaks down below 2507 with volume, chase short positions and set a proper stop loss.
If it pulls back to 2466 and confirms the support is valid, take a small long position. Set a stop loss below 2436.
On the hourly chart for Ethereum, if it breaks above 2567 and holds, we can look at target levels above 2602-2653; while Bitcoin is oscillating at a high position, Ethereum may start to catch up!
For Ethereum, be cautious of a short position at 2605, and set a stop loss at 2645.
Left-side orders: long at 2378, with a stop loss below 2348.
🍕
Upper resistance: 2568-2619-2653
Lower support: 2496-2447-2408
On the 4-hour chart, if it breaks below 2490, look downward to 2439-2392.
Ethereum is currently in a box pattern on the 4-hour chart; it hasn't broken above or below the box. When it can break out or break down from this box, direction will emerge; otherwise, it will continue to oscillate within this box. Meeting adjourned.