On Saturday, May 4, 2024, Bitcoin afternoon thoughts sharing
Wave-type retracement structure, bullish sentiment released and continued to short
The daily market formed a slow upward trend in the short-term rhythm. After hitting the bottom of 56,500 area in the middle of the week, the market went up all the way. The current high reached 63,600 area and then fell back under pressure. It is currently running in the 62,800 area. In recent days, repeated bearishness has failed to some extent. After taking a round of decline yesterday, the short position continued to be arranged in the evening and was unfortunately swept away. In the short term, the rhythm is still too strong, but the main structure on the daily line is still in the wave-type retracement. At present, there is stagflation at the high level, and the increase has reached 5,500 points, so it is more dangerous to be bullish again. In terms of operation, we should continue to keep the high-altitude thinking unchanged.
On Saturday afternoon, it is recommended to short the big cake around 62,800-63,200, and focus on the 61,000-60,000 line.
On Saturday afternoon, it is recommended to short Ethereum around 3,120-3,150, and focus on the 3,000-2,950 line.
What determines a person's success is not heaven, nor luck, but persistence and dedication, which is to do it continuously, repeatedly, and do it with heart!
