May 14th BTC and ETH Latest Analysis
After a night of consolidation, the bottom support on the chart has been firmly established. Yesterday, the market faced a rapid sell-off, pushing down under pressure, and the bears seized a temporary opportunity to strike. BTC dipped to a low of around 78700, with ETH following suit down to about 2233. During the midnight session, the market began to bottom out and recover, with bearish selling pressure significantly weakening. The key support level at 79000 remains solid; yesterday's break was merely a false breakdown, and the rebound momentum continues to build.
Currently, bullish volume is steadily increasing, and market sentiment for buying is warming up. On the daily timeframe, after three consecutive bearish candles hitting the upper Bollinger Band, the price retraced to the middle band and has shown a clear rebound. The bottom shadow structure has confirmed this, with the middle band and the 79000 level forming a double strong support, providing robust buying pressure. On the four-hour level, the previous M-top pattern has been digested, and the current bottom is being built with alternating bullish and bearish candlesticks, as buying funds keep entering; the MACD bearish bars continue to narrow, and the KDJ indicator is brewing a golden cross at the low, signaling a full-blown bullish trend. Subsequent operations should follow the trend with low buy positions.
Trading Reference
BTC: Buy around 79000, target 81500, 83000
ETH: Buy around 2240, target 2350, 2500
After a night of consolidation, the bottom support on the chart has been firmly established. Yesterday, the market faced a rapid sell-off, pushing down under pressure, and the bears seized a temporary opportunity to strike. BTC dipped to a low of around 78700, with ETH following suit down to about 2233. During the midnight session, the market began to bottom out and recover, with bearish selling pressure significantly weakening. The key support level at 79000 remains solid; yesterday's break was merely a false breakdown, and the rebound momentum continues to build.
Currently, bullish volume is steadily increasing, and market sentiment for buying is warming up. On the daily timeframe, after three consecutive bearish candles hitting the upper Bollinger Band, the price retraced to the middle band and has shown a clear rebound. The bottom shadow structure has confirmed this, with the middle band and the 79000 level forming a double strong support, providing robust buying pressure. On the four-hour level, the previous M-top pattern has been digested, and the current bottom is being built with alternating bullish and bearish candlesticks, as buying funds keep entering; the MACD bearish bars continue to narrow, and the KDJ indicator is brewing a golden cross at the low, signaling a full-blown bullish trend. Subsequent operations should follow the trend with low buy positions.
Trading Reference
BTC: Buy around 79000, target 81500, 83000
ETH: Buy around 2240, target 2350, 2500
