Recently, the altcoin market has plummeted, with the total market value falling by more than 20%.

Laolang has talked about this before. There are three market periods in the mountain village every year. They are the red envelope market at the beginning of the year and the flood season market in the middle of the year.

Through rektcapital's Shanzhai cycle chart, we can see that Shanzhai is still in the bottoming stage and is expected to usher in a complete "Shanzhai bottom" at the end of May.

It is worth noting that it is often the mainstream that breaks through first, and then the copycat will rise in tandem. Therefore, it is safer to wait for the mainstream to break through the previous high, and then operate the copycat to make up for the rise.

The key point for a compensatory rise is expected to appear again at the end of this month. It is better to take a break in the spot market in these two weeks. I wish you all a happy weekend and see you next week.

Laolang WeChat: lang0x00

BTC：

Yesterday Laolang talked about BTC rushing higher and making a V-shaped rebound on the 5-day line. The low point of the hourly line continued to rise, indicating that there is bullish support. The $63,353 above is the key point of the resistance line formed on May 6 and 7. Only by standing firmly at $63,353 can it bottom out and strengthen. Next, BTC will rise to test $63,353.

Resistance: 63353, 64252, 65167

Support levels: 62472, 61375, 60184

ETH：

Coinbase transferred out a large amount of ETH, waiting for the delivery market to end. ETH hit the 5-day line, and the hourly line hit the line several times and fell back, entering a triangle convergence trend. The above $3057 is the key point of the resistance line. Only by breaking through $3057 with large volume can it quickly rise and become stronger. Next, ETH will rise to test $3057.

Resistance: 3057, 3088, 3125

Support levels: 3013, 2968, 2912