Master Chen 5.21: ETF releases positive news in advance? Don't blindly chase more! $BTC $ETH #以太坊ETF批准预期 #BTC走势分析 #比特币走势分析
Yesterday, Master Chen's article in the 66100-66500 range pre-buried long order target 67200-67700 perfectly stopped profit and won 1500 points. In addition, after the long order target was reached, the market strongly broke through the upper pressure level given yesterday, resulting in regretful stop loss of short orders.
BTC 4 hours:
Due to the market news that Ethereum spot ETF may be approved, Bitcoin rose sharply. In addition, the SEC will announce its decision on the application for Ethereum spot ETF on May 23.
Although the approval probability of Ethereum spot ETF has increased from 25% to 75%, in the absence of a confirmed approval result, it is expected that Bitcoin will rise before the 23rd and then go sideways, and will fluctuate sharply after the results are announced.
For the short term, the master still maintains a bullish view, and pays attention to the formation of support levels after the rise to carry out position operations.
The first resistance of the day is $71,650, and the second resistance is $72,400. For today, we also need to pay attention to whether the daily closing of Bitcoin can stabilize at $71,000. If there is a sharp correction, the time to break through the high point will be delayed.
If the previous high point, that is, the first resistance level, is retested in the short term, then the bullish view can still be maintained in the future.
The first support reference is $70,860, and the second support is $70,000. If the price pulls back to the first support, the master thinks this is a more reasonable pullback, and the maximum pullback is expected to be $70,000.
Therefore, we can regard it as a short-term buying opportunity near the second support, and everyone can also pay attention to the trend of the 4-hour level rising trend line.
Today's trading ideas: It is recommended to take the view of sideways consolidation after the rise, find the low point of the sideways range and rebound to do more. When trading in the short term, you can pay attention to the low point of the small-level cycle, and the band trading is operated near the 4-hour level rising trend line.
Please refer to these suggestions when trading
5.21 Master's short-term pre-buried orders:
Long entry reference: 70100-70500 range, long in batches, defense 500 points, target 71500-72200
Short entry reference: 72300-72700 range, short in batches, defense 500 points, target 71650-71000
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