The top divergence of Bitcoin has been repaired, and there is a low long position for Ethereum.

CN
7 hours ago

Today is May 23rd, Friday. Let's take a look at today's market trends. From the daily chart perspective, the current closing price has little reference significance. We are currently feeling uncertain about the direction. The same applies to the 12-hour chart, but from the current 6-hour position, there is a temporary top at 111,950.

The 6-hour top divergence is also starting to correct, and the 4-hour chart is clearer with a high position short already established. Currently, both the 4-hour and 3-hour charts are at high positions, so this position can only be described as having a space for oscillating downwards.

Overall, it is a high-level oscillation. If the 110,300 level does not break down, then it will oscillate here before pulling higher, until it eventually breaks below 110,300, which would then create a story for the downside.

For now, just pay attention to this top oscillation range.

Currently, after the peak of Bitcoin, a brand new top structure has emerged from the 4-hour chart, with a temporary dark cloud cover appearing.

Ethereum still primarily favors low longs. As long as it does not break down, it will still maintain a bullish stance.

If 2,600 breaks down, it will be similar to Bitcoin's 110,300, which would then create space for the downside.

Therefore, the overall direction and points are very clear. If you are unsure about your own points, you can follow the public account: KK Strategy.

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