【2024.5.7 BTC/ETH intraday market analysis】

The rise of Bitcoin in the previous two days was wiped out by a few columns last night. It was really exhausting to rise, and it was just a matter of a few candlesticks to fall. Everyone was bullish on the rise in the past few days. I personally still think that this is just a rebound at the daily level. If it can't go up, it will still fall. The spot should continue to hold what should be held, and buy what should be bought. This kind of sideways fluctuation at the weekly level is suitable for contract players. As long as you don't be greedy for longs and shorts, you can make money. #大盘走势

Let's talk about this week's market. Bitcoin is still expected to rebound this week. Only when it stands above 66500, the daily rebound will end and the daily line will turn to longs and continue to rise. If it falls below 62250, this rebound will end and the daily line will turn to shorts and continue to fall. The support level below will first look at the two support levels of 61000-59850!

Ethereum has currently fallen below the daily support of 3100, indicating that this wave of daily rebound has ended and turned bearish, and the support below is around 2977-2903-2819

Bitcoin Ethereum intraday trend analysis:

In the early morning, I said that if Bitcoin continues to fall, pay attention to the bottom of the previous pin at 62900. Unexpectedly, it rebounded after the lowest pin at around 6.26 in the evening, but it did not stand firm around 63900 and started to fall again, indicating that the air force is still relatively strong.

Bitcoin is short in the current 1/2 hour 4-hour callback. Pay attention to the two support positions of 62800-62250 below the callback. As long as it does not fall below 62250, the daily line is still rebounding, and the small-level retracement will also go up. If it falls below, the daily rebound ends and the market turns bearish.

If the rebound stands above 63750 today, the 4-hour correction ends with a high probability of going up. The premise of going up is to break through the 4-hour sideways pressure level of 64500 before continuing to go higher. If it breaks through, it will continue to look at the two pressure levels of 65360-66500! #BTC

In the early morning, I said that Ethereum would turn short if it failed to close at 3105 daily line at 8 am. In the early morning, it just fell to the first support level of 3044 I gave, then rebounded to 3096 and fell. At present, Ethereum 1/2/4 hour levels have entered the short side, and the daily line also rebounded and entered the short side.

Today's rebound is expected to be around the pressure level of 3110. If it fails to go up, you can short sell. The lower target/support level should be around 3026-2977-2935. If the rebound stands above 3110, give up short selling. If it stands firmly at 3110, the 4-hour and daily lines will start to rebound again. The upper pressure level should be around 3169-3218. #ETH