The price of Bitcoin is still volatile, but it has gradually converged. The fluctuations are getting smaller and smaller. I believe that the market will change soon. If it breaks below, it will have the opportunity to test the previous low of around 25800. The midline structure is still short, so even if it rises in the future, it will still be around 25,800. The pressure level is blocked and falls back, and the whole continues to move around the downward channel, waiting for convergence to choose a direction.
Resistance level【27700, 28500, 29150】
Support level [25800, 25200, 23900]
Ethereum has formed a bullish oscillatory triangle, and the degree of convergence is more extreme than that of Bitcoin. Therefore, Ethereum may be the first to change the market. If the subsequent heavy volume breaks through 1830, it will have the opportunity to test the previous high of 1880, but a breakthrough does not mean a reversal, because there is no bottom. Due to the structure and the accumulation of chips for a long time, it is possible to form a false breakthrough, so you need to be careful when operating breakthrough orders.
Resistance level【1846, 1880, 1912】
Support level [1770, 1738, 1685]
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 it. 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 23, 2023
The above analysis is for reference only and does not constitute investment advice.
