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Evening trading strategy:
Bitcoin:
- If it revisits the 63455 level tonight without falling below 62400, the daily rebound will continue.
- If it breaks below 62400, it may enter a bearish market, with support levels at 61730-61000-60560.
- As long as the minor correction does not drop below 63455 or 62400, the daily trend remains bullish, with potential resistance levels at 64550-65220-65800.
Ethereum:
- It must hold above 3115 on the 4-hour chart to initiate a proper uptrend on the daily level.
- Target/resistance levels above are at 3165-3205-3240.
- If the 1-hour chart falls below 3115, the 4-hour chart will continue its sideways movement, with support levels at 3084-3044-2976.$BTC $ETH
LIVENeo Trader
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BTC/ETH intraday market analysis on May 5, 2024：
Bitcoin:
- Continuous three-day bullish candles indicate a minor uptrend, driving a rebound in the daily timeframe. Currently, attention is on the support levels between 62950-62400. If the price falls below 62400, it may signal the end of the daily rebound and a shift to a bearish trend, with support levels at 61730-61000-60460. If the hourly closing remains above 63560, the minor retracement is likely completed, suggesting a resumption of the uptrend, with targets at 64550-65220-65850.
Ethereum:
- Failure to hold above 3135 yesterday led to a rejection after a one-hour candle spiked to 3167. Currently, the half-hour timeframe indicates a bearish sentiment, with focus on the 3100 support level. Breaking below this level could signify the end of the rebound, turning the market bearish, with support levels at 3047-2973-2932. If the hourly closing today stays above 3115, the minor retracement is likely finished, potentially initiating an uptrend, with targets at 3150-3193-3240.$BTC $ETH
Bitcoin:
- Continuous three-day bullish candles indicate a minor uptrend, driving a rebound in the daily timeframe. Currently, attention is on the support levels between 62950-62400. If the price falls below 62400, it may signal the end of the daily rebound and a shift to a bearish trend, with support levels at 61730-61000-60460. If the hourly closing remains above 63560, the minor retracement is likely completed, suggesting a resumption of the uptrend, with targets at 64550-65220-65850.
Ethereum:
- Failure to hold above 3135 yesterday led to a rejection after a one-hour candle spiked to 3167. Currently, the half-hour timeframe indicates a bearish sentiment, with focus on the 3100 support level. Breaking below this level could signify the end of the rebound, turning the market bearish, with support levels at 3047-2973-2932. If the hourly closing today stays above 3115, the minor retracement is likely finished, potentially initiating an uptrend, with targets at 3150-3193-3240.$BTC $ETH
Avertissement : comprend des opinions de tiers. Il ne s’agit pas d’un conseil financier. Peut inclure du contenu sponsorisé. Consultez les CG.
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