May 20th Market Analysis
Yesterday, BTC experienced significant fluctuations with mysterious operations from the whale. The intraday volatility reached 50,000 points, and there was no key information from the fundamentals. It might just be a wash and relax. A slight top divergence pattern appeared on the daily chart. Pay attention to changes in volume and guard against pullback risks. The weekly trend is healthy, and the golden cross has formed. We remain optimistic about the subsequent market trend, focusing on the fundamental situation and the Federal Reserve's interest rate cut process. Consider appropriately reducing positions intraday, but do not liquidate completely to avoid missing out on sudden surges. The golden cross on the long-term weekly chart has formed, indicating that a new round of upward cycles may begin. ETH is following BTC in a synchronized consolidation, with significant fluctuations. In the early morning phase, there were considerable gains. A divergence pattern has been observed on the 4-hour chart, and a slight pullback adjustment is expected intraday. After stabilizing, there is potential for continued upward movement. Consider gradually entering the altcoin sector as it synchronizes with the mainstream. Market sentiment remains low, but after mainstream corrections stabilize, it can be initiated. Consider meme tokens, as Penple has seen significant pullbacks and light follow-up could be considered. BSC has launched the latest activities, and Alpha events are frequent, so it would be beneficial to accumulate Alpha points. The MEME market deserves more attention. The ecosystem on the SOL chain is recovering, so keep a close watch. For altcoins already in hand, exercise patience and wait for the market to warm up. Fundamental news: None. First-level market information: The activity on the SOL chain is recovering, and MEME tokens should be closely monitored. Recently, BSC has adjusted GAS fees, and on-chain activity is also increasing. Pay more attention to the MEME situation. Intraday mainstream coin support and resistance: In today's intraday market, BTC support is at 103500-104000, and resistance is at 107000-108000. ETH support is at 2400—2450, and resistance is at 2600-2700
