Preface: Investment involves risks, please proceed with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, and your readership is welcome!
Time of writing: 15:22, May 13th, Beijing time
Market Information
- US SEC: Coinbase cannot compel the SEC to establish new rules;
- Bitcoin is the "most valuable digital canvas in history" - Ordinals artist;
- Ripple CEO: The next target under US regulation will be the stablecoin company Tether;
- South China Morning Post: Hong Kong cryptocurrency ETF approved, participants at the Bitcoin Asia Summit begin to focus on the mainland;
- Mark Cuban: SEC Chairman Gensler's cryptocurrency policy may cause Biden to lose the election.
Market Review
Last week, it was suggested that the market would continue to decline, and both Bitcoin and Ethereum did decline as expected. Over the weekend, the market continued to fluctuate. The low point for Bitcoin in this decline was at 60187, approaching 60000. The low point for Ethereum was 2864, which was reached today and also broke through the target range for Ethereum, falling below 2900. After a small rebound near 2900 following the previous decline, the bears broke through 2900 with strength after the weekend's fluctuations. Short positions are currently in a profitable state. It remains to be seen whether the decline will continue or if there will be a rebound after reaching the bottom.
Market Analysis
BTC:
Looking at the 4-hour chart, Bitcoin mainly experienced fluctuating trends over the weekend, with small rebounds. The rebound was not very strong, and the recent two low points continue to be refreshed, indicating that the strength of the bullish rebound is not strong. It actually broke through the 60000 support, rather than a false breakthrough. Overall, Bitcoin's decline has not yet reached its bottom, and it is expected to continue to decline in the future. For intraday trading, it is recommended to position at 62100 as a short-term resistance, with the target still in the range of 60000-58500. After reaching this range, the strength of the bearish trend will be observed to see if it will fall below 56537. Enter the market at your own discretion; control the risk and manage your profits and losses.
ETH:
Looking at the 4-hour chart, Ethereum's trend is weaker, with short-term lows being refreshed again. It broke through the 2900 support level and did not show a long pin bar, indicating that Ethereum is relatively weak. There is a high chance of breaking through 2817, and the target after breaking through is around 2600. For intraday trading, short positions are preferred, with a recommended position near 2975 and a target of 2880. After reaching this level, observe the breakthrough of 2817. If it breaks through, hold until it reaches around 2600. Enter the market at your own discretion; control the risk and manage your profits and losses.
In summary:
The bearish trend for Bitcoin and Ethereum remains strong, and the short-term rebound has not broken the downtrend.
The article is time-sensitive, be cautious, and the above is only personal advice for reference only!
Follow the public account "加密老赵" to explore the market together;
What you think you hear is an opinion, but in reality, it is often just noise. In the market, opinions are even cheaper than cabbage in the market, they are simply worthless. You need to be able to distinguish between opinions and facts. At any time, when anyone expresses something, try asking yourself: Are they stating a fact or an opinion?
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
