Li Shengting: 5.21 Ethereum/Bitcoin Afternoon Market Analysis and Trading Ideas

In the article released earlier this morning, we clearly indicated a long position for Ethereum around 2440. This morning, the price of the coin rose to our target level of 2600, successfully reaching the target we set. I believe those who have been following should have gained something.

From the daily technical indicators for Ethereum, the KDJ indicator is still in a high-level oscillation phase, while the MACD indicator shows a slow increase in bullish momentum. Currently, the MA5 and MA10 moving averages are continuously strengthening, and Ethereum is currently in a green TD3 bullish expansion phase. Meanwhile, Bitcoin is in a green TD1 bullish expansion phase, with the MA30 moving average showing significant strengthening compared to yesterday. The price in the BOLL indicator has returned to the upper band area. Overall, from the daily perspective, the trading idea for today suggests focusing on buying on dips.

From the 4-hour technical indicators, the KDJ indicator and MACD indicator show a cross upwards from the bottom. The ultra-short-term BOLL indicator shows the price stabilizing above the MA5 moving average again. In the short term, the MA5 and MA10 moving averages are again pressing upwards simultaneously. The DIF and DEA indicators are showing an upward trend, and the 3-day moving averages are all arranged in a bullish formation. I personally expect that the price will likely continue to oscillate upwards today, with resistance levels to watch around 2620-2740. If it breaks and stabilizes above this resistance area, the price will welcome a second upward move.

Ethereum: Long position around 2540-2510 Stop loss: 2453 Target: 2600-2660

Bitcoin: Long position around 105500-104600 Stop loss: 103500 Target: 107000-108500

The above is my personal afternoon market analysis, for your reference only.