5.24 Ethereum is still very strong! The callback is almost over and the surge is about to start?
Bitcoin was not able to support the middle track of the Bollinger Band at the 4-hour level yesterday, but fell directly to the lower track of the Bollinger Band at the 4-hour level. The lowest price was around 66,000, and the current price is around 67,500.
From the MACD below, yesterday the price was at the 4-hour level, and when the Bollinger Band was at the middle track, the red volume column of the MACD did show signs of shrinking volume, but the MACD fast and slow lines did not form a golden cross trend, and the price also fell rapidly, directly from the 4-hour level unconnected middle track to the 4-hour level connected lower track.
At present, the 4-hour MACD fast and slow lines are trending downward. The fast line has touched the 0 axis position, but the slow line has not, but the current situation is very pessimistic for bulls. If the price continues to fall today, and the fast and slow lines of the MACD at the 4-hour level fall through the zero axis position, then the market is likely to turn into a downward trend!
Then let's take a look at the situation of Ethereum. Ethereum is currently very strong. It can be seen that since the last round of rise, Bitcoin has experienced a very large correction so far, but Ethereum has basically not had a correction. It can be seen that after its price reached a high level, it has basically been in a sideways trend. It can also be seen that there was a wave of downward spikes before, but the price quickly recovered.
From the MACD below, because Ethereum's previous rise was very strong and rose a lot, its MACD double line is at a relatively high position. Although it is now a dead cross trend, the double line is correcting downward, but according to the general market trend, the current correction time has been very long.
It should be able to return to the upward trend soon and initiate another round of upward trend. Although the time is uncertain, because the correction time has been very long, it is ready to start the next round of rise at any time, so we can boldly speculate that before the next round of rise, the MACD fast and slow lines at the 4-hour level of Ethereum will be difficult to pull back to below the 0 axis.
So because the 0 axis is above the bullish area, the MACD fast and slow lines can form a golden cross again above the 0 axis, then there is no doubt that this upward trend will be very strong next, so everyone can pay attention to the situation of Ethereum.
