Preface: Investment carries risks, and operations should be conducted with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, and you are welcome to read!
Article writing time: May 14, 10:39 AM Beijing Time
Market Information
- Bloomberg: The stablecoin bill has gained bipartisan support in the U.S. and is expected to be quickly revived in the Senate;
- Michael Saylor states, "It's time to end the cryptocurrency war";
- Barclays expects the Federal Reserve to cut interest rates in December;
- The U.S. will release April CPI data tonight at 8:30 PM, please pay attention to market fluctuations;
- Dell has rejected a shareholder proposal to "include Bitcoin in the company's treasury";
Market Review
Yesterday, we expected the market to continue to decline, but the decline did not persist. Those who had moved their stop-loss on the short position at 105,000 Bitcoin basically exited with a small profit. The Ethereum short position was stopped out. Bitcoin's movement is characterized by high-level fluctuations and has not broken through the upper resistance, merely testing it again. Ethereum rebounded a bit stronger, peaking at 2738. In this short-term movement, Ethereum's performance was stronger than Bitcoin's. Bitcoin is currently under pressure, and we will continue to focus on resistance for future positioning;
Market Analysis
BTC:
Looking at Bitcoin on the daily chart, the short-term rebound only reached the previous resistance zone and has not broken out. The previous short position at 105,000 still holds a profit of 1500 points. Those who have moved their stop-loss can still position around this resistance level. If the daily line stabilizes above 105,000, it will be considered a breakout, and we will not hold onto shorts. For short-term trading, those still holding at 105,000 can continue to hold, while those without positions can consider entering around 104,000. If it goes up to 105,000, a top-up can be made, with a suggested stop-loss near 106,000. The initial target is 100,000, then looking at around 98,000. Please manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
ETH:
Ethereum's movement is slightly stronger. Last night, it surged directly to 2738, basically reaching the previous high point of the 2430-2750 range I mentioned. Due to Bitcoin's movement yesterday, Ethereum did not position around 2430 and instead stopped out. Currently, Ethereum has reached near the upper range of 2750 but has not broken out. The opportunity for a short-term pullback has increased, as Bitcoin is again under pressure near 105,000. In daytime trading, Ethereum should also position for shorts around the pressure near 2750, with a recommended entry point near 2700, keeping a small loss, targeting around 2450. Please manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
In summary:
Bitcoin is still under pressure above, and the opportunity for a short-term pullback is greater;
The article is time-sensitive, please pay attention to risks. The above is only personal advice and for reference only!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
If you don't like it, you must have your own standards for what you do like. All negativity is the opposite of positive perception. The matter itself is not important; what matters is what changes you can achieve through it and what impact it can have! Some people like one-sidedness, some like fluctuations, some excel in rising, while others are obsessed with falling. No one is absolutely right, and no one is absolutely wrong. If you don't like it, it doesn't meet your standards; what you can't do may be what others excel at.
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