Attention!! This wave of BTC has directly reached the top of the monthly Bollinger Band upper line, and SOL's rise has hit the 5-day Bollinger Band upper line. Currently, the 5-day MACD for BTC and SOL has first shown a weakening signal for upward momentum.
However, the 5-day MACD for ETH has not yet shown a weakening signal for upward momentum, as it lags behind BTC and SOL. So far, it has not rebounded to touch the 5-day Bollinger Band upper line near 2800. Will this gap be filled?
Returning to the significance of the first emergence of a weakening signal for upward momentum at the 5-day level. If another 2-3 signals appear in the next two weeks (calculating just approaching the June 19 Federal Reserve interest rate meeting), then a large bearish candle will appear downward. The nearest support at the 5-day level is 104600. However, the weekly MACD is still opening upwards, and it will only show a weakening signal for upward momentum when it drops to 102000, at which point a deeper adjustment will occur. We are already approaching the end of May; April and May have been rising, and June, as the last month of the second quarter, is likely to be a transitional month for a downward shift. It’s impossible to keep rising; the capital required for BTC to be above 110k is too large, and if it can't keep up, it needs to adjust and build momentum again.
Therefore, in the short term, it is not recommended to chase high prices during the upward process; instead, one should wait for a pullback to the support points to buy low. One should grasp the low long positions in the short term. As long as 112000 is not broken, it indicates that 108800 is not stable. If it pulls back, it may break below 108200, with the needle falling within the strong oscillation range of 107700-106300. Therefore, low long positions can only be taken by buying in at 107700-106300. If the price later drops below 106000, it indicates that it has fallen out of this oscillation range, and then we can look downward towards the range of 105000-102400!
