5.20 Bitcoin and Ethereum Trend Analysis and Trading Ideas!

CN
14 hours ago

Currently, from the daily chart perspective, Bitcoin has once again broken out after several days of sideways consolidation. It is currently facing resistance and pulling back after a second attempt to reach the previous high of around 106,000. The resistance remains at 106,000-106,500, while support is at 104,000-102,000. Ethereum has also made a second attempt to reach the 2,580-2,600 range before starting to pull back, with support at 2,500-2,450. If it breaks below, we will continue to look at the 2,350 level, with resistance at 2,580-2,600, and if it breaks above, we will look at 2,700.

From the 4-hour chart perspective, Bitcoin's second attempt is still facing resistance at around 106,500 and is pulling back. The short-term support level is at 104,500, and if it breaks below, we will look back at 103,000-102,000. For Ethereum, the support is currently at 2,500-2,450, with resistance at 2,580-2,600.

Trading strategy: We are currently in a phase of pulling back after a high. There is still room for Bitcoin and Ethereum to move downwards, so it is recommended to continue to short aggressively!

Short Bitcoin at the current price of 105,000-105,500, targeting 103,500-102,000;

Short Ethereum at the current price of 2,530-2,560, targeting 2,450-2,400;

The strategy is time-sensitive, please refer to the main page for details, and prioritize private real-time guidance!

Professional team gold medal analyst Ruo Yu focuses on contract trading guidance. Follow the WeChat public account "Coin Circle Ruo Yu" to understand real-time market analysis and trading strategies!

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