Title:
Zhou Yanling: Bitcoin and Ethereum's Latest Trend Forecast Analysis and Operational Strategies on May 4th
Content:
Regardless of whether it's bullish or bearish, it's best for your Bitcoin to rise when it needs to rise and fall when it needs to fall. For short-term traders, the key is to grasp the market rhythm, set corresponding stop-loss orders, and avoid chasing highs and killing lows. If this rebound fails to continue, it indicates that the market has not bought into Powell's unilateral sentiment. The recent non-farm payroll data provided a boost to the market. With the release of the U.S. Department of Labor's non-farm payroll data, the increase in employment was significantly lower than expected, pushing up risk assets. Bitcoin's price quickly surpassed $60,000 and has now reached around $63,000. The continuous weakness of the U.S. dollar is generally favorable for risk assets, including cryptocurrencies. The latest economic data indicates a slowdown in the labor market, leading the market to believe that this is a sign that the Federal Reserve may cut interest rates as early as September. These are some important influencing factors for the recent fluctuations in the cryptocurrency market. While market volatility presents opportunities, it also increases risks. Therefore, it is essential to set stop-loss orders and implement risk control measures when trading.
Technical Analysis:
In terms of technical indicators, the focus should be on the resistance around $65,000. As long as this rebound remains below $65,000, the market is likely to decline again next week. Therefore, it is important to be cautious and not be too greedy in capturing the rebound space.
Bitcoin Operational Strategies on May 4th:
- Long at 62500-62900, stop loss at 400 points, target at 63800-64200-64600
- Short at 64300-64000, stop loss at 400 points, target at 63400-63000
Disclaimer:
The above analysis and strategies are for reference only. Readers should bear the risks themselves. The article's review and publication may lag behind, so specific operations should be based on Yanling's real-time strategies.
Author's Information:
This article is exclusively authored by senior analyst Zhou Yanling (WeChat: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, mainly analyzing and guiding operations in the cryptocurrency contract/spot markets such as BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, with a solid theoretical foundation and practical experience. For more real-time investment strategies, trading techniques, operational skills, and knowledge of candlestick charts, you can follow the author (WeChat: Zhou Yanling).
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