5.23 Bitcoin and Ethereum Market Analysis ~ The upward sentiment has eased, looking for a pullback during the day.

CN
孟晓瀚
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15 hours ago

Yesterday, after Bitcoin broke through a new high, it continued to fluctuate slightly for a day. Our low-delta strategy did not catch Bitcoin, but we successfully entered Ethereum, capturing a space of over 100. Congratulations to those who followed along.

After today's daily update, the TD indicator has moved to TD6 as I personally expected. The MACD and KDJ indicators are already overbought, and the coin price is slightly resonating upwards, relying on the MA5 and 10-day moving averages. The only risk is that there is currently a gap of 2000-3000 points between the coin price and the MA5 daily moving average. It is expected that there will be a pullback during the day, with a key focus on the support at the MA5 daily moving average around 108500. As long as the pullback does not effectively break this support, the K-line pattern will not be damaged, and the daily line will continue with the TD789 and subsequent trends.

On the 4-hour chart, the coin price is currently running below the MA5 daily moving average. The MACD and KDJ indicators are showing a slight retracement sentiment. Combined with the hourly chart, the overall trend for the day is leaning towards a slight fluctuation and pullback. The high point resistance is referenced at around 112000. For the market from noon to evening, my personal view is to follow the trend and maintain a high sell-low buy strategy. Set a stop-loss to avoid being controlled by market manipulators.
Operation strategy: 111200-111700 for shorting, target: 110000-108500, stop-loss: 112300.
Low delta entry points are referenced around 108000-108500 for light positions.

After Ethereum surged in the morning, the daily K-line formed a double top pattern with the high point from May 13. Currently, the daily MACD is continuously shrinking, and there is also a gap between the coin price and the MA5 daily moving average. Therefore, the outlook for the day is in sync with Bitcoin, looking for a pullback first. The low point support is referenced around 2580.
Operation strategy: 2690-2730 for shorting, target: 2650-2600, stop-loss: 2750.
For the short-term trend, this should be sufficient, and I will continue to follow up later.
This personal view is for reference only. There may be delays in article review and push notifications, and the market changes rapidly. Specific entry and exit points should be based on real-time guidance. Please be cautious when entering the market. Analysis is not easy, and I welcome everyone to like and follow the public account for surprises!

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