Director’s 1078th original daily market analysis 2023.5.16
1. Market sentiment:
2. Chart structure:
1、#BTC
#BTC 1H structure:
Currently, it is still in the trend of an extension of 1H, but in the short term, this 1H is almost finished. If it falls back here, the first support will be the yellow support line area below. Then if it goes up for the third 1H, it will depend on whether 27500 can be broken through again.
If it fails to break through, it will depend on whether the market center continues to fall. Whether the downward trend will be completely ended depends on the subsequent shock trend.
#BTC 15F structure:
Looking at the current 15F structure, the first 15F decline is still in progress, and this decline is still in an unfinished state.
After this, there will be a second rebound of 15F. It depends on whether the third one can form a bottom divergence of 15F. Only in this way can it end a 1H decline, or directly consolidate the center of 15F. There are possibilities for it to go up next.
In the short term, it is estimated to be mainly around the range of 27500-27000, and then choose the direction.
2、#ETH：
#ETH Structure of 1H:
The structural trend of the concubine is the same as that of the pancake, with no major difference.
The current trend is still an extension of the previous 1H upward trend. If it retraces and does not fall below the yellow support line area, it can continue to rise for the third 1H.
The strength of the third rise needs to be observed. If it is not strong enough, it will easily lead to divergence and end the rebound trend.
Trading strategy:
The market changes too fast, and many reminders cannot be given in time, and it is impossible to explain the market clearly when it changes, so you can follow me
Tips
Investing is risky. For investment with spare money, remember to never fully invest and never take out loans. We only provide information, which does not constitute buying or selling advice. You are free to buy and sell at your own risk.
