Bitcoin is currently in a bearish trend for the 12-hour level. The previous high is 30,000, and the decline will stop only if it breaks through. The 2-4 hour level was previously high at 28,280, and the decline will stop only if it breaks through. The price is currently rebounding under the support of the descending channel. Although There is a rebound, but it can be seen that the rebound is not very strong, and the bullish volume is not strong. It is currently under pressure, and the rebound occurred on the weekend. It is observed that the price will repeatedly test the 27000 neckline. Before the decline stops, long positions can only be short-term. , when encountering resistance, you must consider moving take profit. For short trends, look more at pressure and less at support, and do not copy the bottom of new lows.
Resistance level【28280, 28800, 29121】
Support level [25780, 25200, 23900]
Ethereum also rebounded in conjunction, and also rebounded to the neckline position. The volume of bulls is still weak. Pay attention to the risks after the retracement, especially if a top structure of 15-30 minutes is built.
The previous high at the 12-hour level was 2020, and the midline maintained a short trend before it broke through. The previous high at the 2-4 hour level was 1880, and the short trend remained at the hourly level before it broke through.
Resistance level【1880, 1940, 1960】
Support level [1666, 1460, 1370]
The market is changing rapidly. If you make a profit, move the stop loss to the opening price in time. The point can only be used once. Do not open the same point again after being stopped. Do not place orders at high times. You must bring a stop loss. Stop the loss twice and close the position gradually. Open a position and gradually reduce the position. If others are greedy, I will be fearful. If others are fearful, I will be greedy. It is not recommended for novices to do futures contracts.
May 14, 2023
The above analysis is for reference only and does not constitute investment advice.
