Bitcoin is soaring mindlessly, Ethereum has cautious rebound opportunities! 5.21 Bitcoin analysis
Yesterday's short-selling strategy was reminded across the network to exit, Bitcoin also gained fifteen hundred points, and Ethereum gained twenty to thirty points! In the evening, the coin price rebounded as expected after stopping the decline, and in the morning Ethereum surged above the 2500 mark, while Bitcoin broke through the 107000 mark, currently consolidating around this area!
From a technical perspective, the daily line formed a long lower shadow bullish candle in the morning, with frequent yin-yang conversions, indicating a wide range of fluctuations. The Bollinger Bands are trending upward, the KDJ lines are golden crossing and diverging again, the MACD dual lines are merging, and the volume indicators are relatively weak. After the indicators became overbought, the coin price retreated and was strongly pulled back, indicating the bulls are too strong, so the main strategy is to buy on dips! During the day, pay attention to the upper pressure levels at 107300, 108000, and 110000, and the lower support levels at 104500, 103000, 102000, 100700, 100000, 99000, and 97500.
5.21 Bitcoin trading strategy: Aggressive traders short one hand at 107000-107500, defending around 108300, aiming for targets at 106000-105500-105000-104500, and adjusting stop losses based on the situation if broken!
5.21 Ethereum strategy: Aggressive traders short one hand at 2600-2620, defending around 2650, aiming for targets at 2550-2530-2500-2460, and adjusting stop losses based on the situation if broken!
Long position strategy: Buy Bitcoin at 103500-104000 on dips, defending around 103000, aiming for targets at 104500-105000-105500-106000, and if broken, look at 107000-107500. Continue holding based on the situation!
Ethereum reference for buying at 2450-2470 on dips, defending around 2420, aiming for targets at 2500-2530-2550, and if broken, look at 2580-2600-2630!
After the US stocks dipped, can they rally again? Yesterday, when US stocks fell, the coin price surged strongly in the morning. It seems that funds do not plan to withdraw temporarily, so ensure to set proper stop losses when shorting to manage risks. If it goes down, gradually adjust the stop loss to protect profits! Wait for funds to withdraw and adjust the stop loss to expand the space!