2024.05.16 Thursday

After a large bullish candle, are we entering a bull market era?

① 20:30 US Initial Jobless Claims for the week ending May 11

② Speech by the Federal Reserve's Mester on economic outlook at 00:00 the next day

③ Speech by the Federal Reserve's Bostic on economic outlook at 03:50 the next day

1. Daily Chart: After breaking below the 60,000 support level, the price has been oscillating above it. If the later pullback does not break this level, there is still a trend of continued rise.

2. 1-hour Chart: After a short-term breakthrough above the 64,600 support level, there was a slight pullback. If the later trend does not break this support, there is still a trend of continued rise.

II. Ethereum

1. Daily Chart: After probing the 3,000 support level, the price has been oscillating above it. If the later oscillation does not break this support, there is still an upward trend.

2. 1-hour Chart: After a short-term breakthrough above the 2,970 support level, there was a slight pullback. If the later trend does not break this support, there is still a trend of continued rise.

I. Bitcoin

1. Yesterday's Viewpoint:

Summary: After a short-term dip near the 60,500 level, there was a rebound. If the later trend does not break this support, there is still a trend of rebound. Resistance above is at 64,400 and 67,050; if broken, it will continue to expand the downward space. Support below is at 58,200 and 56,000.

2. Later Trend:

The later trend saw a slight pullback without breaking the 60,500 level, followed by a significant rise, reaching the first target of 64,400 and a high of 66,644.

II. Ethereum

1. Yesterday's Viewpoint:

Summary: After a short-term dip near the 2,860 level, there was a rebound. If the later trend does not break this support, there is still a trend of rebound. Resistance above is at 3,010 and 3,130; if broken, it will continue to expand the downward space. Support below is at 2,745 and 2,650.

2. Later Trend:

The later trend saw a slight pullback without breaking the 2,860 level, followed by a significant rise, reaching the first target of 3,010 and a high of 3,039.

I. Bitcoin

Summary: After a short-term breakthrough above the 64,600 level, there was a slight pullback. If the later trend does not break this support, there is still a trend of continued rise. Resistance above is at 68,140 and 71,300; if broken, it will initiate a pullback trend. Support below is at 61,300 and 58,800.

II. Ethereum

Summary: After a short-term breakthrough above the 2,970 level, there was a slight pullback. If the later trend does not break this support, there is still a trend of continued rise. Resistance above is at 3,080 and 3,220; if broken, it will initiate a pullback trend. Support below is at 2,850 and 2,750.

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