Bitcoin broke through a triangle. It was also mentioned before that it was subjectively believed that the downward break was the main one. However, the price did not form a convergence and downward break. Therefore, it was as low as 25,900 before the test. It was observed whether this position can form a rebound in demand. However, even if it can rebound, it will be difficult to break through. 27700, so it will fall back again when it rebounds to the supply level. The center of gravity is currently moving downwards. Although it will not plummet, it will be a downturn, so even if it is long, it can only be short-term, because the mid-line short position is more obvious.
Resistance level【26500, 26800, 27700】
Support level [25800, 25200, 23900]
Ethereum is currently in the process of breaking down. Ethereum broke through falsely based on the triangular structure and then broke down. It is now showing an upward channel and breaks down. It is also linked to the low and medium before the Bitcoin test, but you need to pay attention to the subsequent price test. The upper pressure is at 1826 In the -1840 range, a potential falling wedge appears for larger levels. According to the wedge structure, there is a 90% probability of breaking through. Therefore, we need to pay attention to whether the bulls can counterattack and form a breakthrough in the future. However, it is subjectively judged that even if the wedge is broken, it will be difficult to turn around. The trend is likely to be horizontal instead of rising.
Resistance level【1826, 1840, 1880】
Support level [1738, 1700, 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 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 25, 2023
The above analysis is for reference only and does not constitute investment advice.
