- Title:
- Zhou Yanling: Bitcoin and Ethereum's Latest Trend Forecast Analysis and Trading Strategies for May 5th
Yesterday, the forecast position given by the big cake was still very powerful, with most long positions capturing the entire space and short positions seamlessly connecting. In fact, it is also within expectations for the coin price to return to this position. Currently, it has basically reached the vicinity of the previous high point of the decline, but is still under pressure to run below 65,000. In the evening, attention should still be paid to two key resistance levels: one is around the middle rail at 65,000, and the other is the upper resistance point of the previous channel at 68,000. In other words, it is necessary to gradually break through and stand above these two resistance levels in order to completely end the weak correction and return to a strong bullish trend. Conversely, if it cannot hold steady, the weak correction will continue to suppress, either through a downtrend channel or a sideways range. At the same time, once there is further decline, two key short-term supports should also be noted: 61,000 and 58,600. When the price approaches these two positions, attempts should be made to stabilize and look for a bullish rebound, as one of them is likely to become a short-term turning point. Ultimately, it will return to a one-sided bullish rise. The recent decline is just a kind of adjustment after the previous continuous surge, but adjustments, after all, will come to an end one day.
Bitcoin Trading Strategy for the Evening of May 5th:
- Short at 64,200-63,800, stop loss at 400 points, target 63,000-62,500, continue to break below and look towards around 61,800.
- Long at 61,700-62,000, stop loss at 400 points, target 62,800-63,200
【The above analysis and strategies are for reference only. Please bear the risk on your own. The article's review and release may have delayed strategies and lack timeliness. Specific operations are subject to Yanling's real-time strategies.】
This article is exclusively authored and shared by senior analyst Zhou Yanling (WeChat Official Account: Zhou Yanling). The author has been engaged in financial market investment research for more than ten years, mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other coin circle contract/spot operations. With solid theoretical foundation and practical experience, the author is skilled in combining technical and fundamental analysis, emphasizing on capital management and risk control. The operating style is steady and decisive, and is recognized by a large number of investment friends for the amiable and responsible character and sharp and decisive operations. If you need to understand more real-time investment strategies, trading techniques, operational skills, and candlestick knowledge, you can follow the teacher (WeChat Official Account: Zhou Yanling).
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