Analysis of Bitcoin and Ethereum Market on May 6: Today’s Highlights of BTC and ETH

Highlights of Market

Big Pie: At 8:30 last Friday (May 3), the non-farm payrolls released by the United States were far lower than expected, and the unemployment rate in April increased by 0.1%. The bearish data on the US dollar gave the US dollar index a blow. Big Pie rose by 6.47%, leading the currency market. From the weekly perspective, Big Pie recovered its lost ground last week, leaving a long lower shadow and closing with a positive line. The overall trend is relatively strong. From the daily perspective, the highest point of 64,800 on April 30 was reached in the previous two days, and there was a 1,000-point retracement. Technically, the pressure of the 30-day moving average of 64,800 on the daily line is more obvious, and the double top formed by the 4-hour line of 64,800 is more obvious. The key point to focus on in the short term is to break through and stabilize 64,800-66,800 in the short term, and there is great hope for real take-off. The focus of the support below is 62,000. If this support is not broken, the overall bulls still occupy a favorable position.

Erbing: This time the rise is relatively weak, the weekly line closed below the moving average, the 7-day moving average turned downward and broke through the 14-day moving average, forming a dead and downward trend, and the overall trend is embarrassing. However, there were several pins, and the support chips of the long lower shadow line were concentrated around 3000 points. The funds for protecting the market were relatively strong. In the short term, 3200 points above is still an important threshold before the rise.

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