Zhou Yanling: 5.8 Fed Steady as a Rock, Bitcoin Soars; Outlook Remains Bullish but Watch for Risks
Bitcoin was mostly in a sideways consolidation during the day yesterday, until the Fed's data announcement last night triggered a surge. It was no surprise that the Fed kept the benchmark interest rate unchanged at 4.25%-4.50%, in line with market expectations. The Fed has maintained this rate for three consecutive times now, which supports the price of cryptocurrencies and suppresses the dollar. Consequently, the price of cryptocurrencies has also responded positively. Today, in the Asian session, it surged directly above 99,000. Currently, it seems that Bitcoin still has room for further highs. In yesterday's article, Yanling clearly stated that as long as the price remains above 95,000, any pullback is an opportunity for us to go long. In a bull market, we only take long positions, and the market is quite strong; better late than never! It has indeed risen to the target position for long positions that Yanling provided yesterday. Although it is uncertain how long the fundamentals and data can influence the price, we are simply going with the trend. Friends who entered low positions and haven't exited can reduce their positions to take some profits, while the remaining can continue to hold and look upward.
From the perspective of technical indicators, the current K-line pattern shows an upward trend in recent cryptocurrency prices, forming multiple bullish candles, indicating strong buying power in the market. On the daily chart, May 8 saw a long bullish candle that broke through previous highs, reflecting strong bullish sentiment. The MACD indicator is continuously expanding upward in the hourly timeframe, with both the fast and slow lines above the zero axis, indicating strong upward momentum. The RSI in the hourly timeframe is approaching the overbought zone but has not yet reached extreme values, suggesting a potential need for a pullback in the short term. The EMA7, EMA30, and EMA120 in the hourly timeframe are in a bullish arrangement, and the price remains above the EMA7, supporting the current upward trend. Overall, the main direction of operations should continue to be bullish.
Zhou Yanling's 5.8 Bitcoin Trading Strategy:
Long at 97,300-98,300, stop loss below 96,300, target 99,500-100,300, continue to look upward at 101,300.
Short at 101,500-100,500, stop loss above 102,500, target 99,000-98,000.
Zhou Yanling's 5.8 Ethereum Trading Strategy:
Long at 1,860-1,890, stop loss below 1,820, target 1,950-1,980, continue to look upward at 2,030-2,070.
Short at 1,980-1,950, stop loss above 2,020, target 1,870-1,840.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. For more real-time community guidance, consultation on position liquidation, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
