【Market Views on May 10】
The big cake rebounded more than 2,000 points from the 60,000 support last night, which is still a good trend, which means that the 60,000 support has been reinforced again, lighting a weak light for the tired market sentiment. The current position of 63,200 is a small level of pressure, so pay attention to controlling desire. There are no factors for a big surge in the short term. From the news perspective, 1. The transaction volume of six Hong Kong virtual asset ETFs today was 11.3092 million Hong Kong dollars. The latter data can be ignored before there is a big change. 2. Harvest International CEO: The company is considering allowing mainland investors to invest in its Bitcoin and Ethereum ETFs through the Shanghai-Hong Kong Stock Connect program in the future. This news is also a catalyst, giving the market unlimited imagination space. From the recent news, institutions have been continuously entering the market and creating positive news to brew a huge upward trend. Powell will speak on the 14th and CPI data will be released on the 15th. The probability of a change in the market in the next two days is still high. Don't cut your losses easily, don't throw out low-priced chips easily, and wait patiently.
From a technical perspective, the daily price of Bitcoin has tested 63,000 again after the previous K-line closed with a real positive line. The resistance Bollinger band in the middle track area continues to maintain a flat state. The daily price of Bitcoin has just touched the pressure position. The daily price has received a positive line to form a long-short conversion, forming a bullish engulfing. The short-term four-hour price has completed a breakthrough and entered the rising channel. The long and short volume has gradually shrunk, and the sideways market has absorbed funds. The weekly line has risen in a wedge shape. Overall, if the bulls want to exert their strength, they must break through 63,500 in one go, otherwise the probability of downward fluctuations in the range of 61,500-62,600 is relatively high.
Bitcoin intraday support: 62170 Pressure: 64300
Yita intraday support: 2968 Pressure: 3109
Hot news during the day:
🪅 Fed Bostic: It is expected that the Fed may only cut interest rates once later this year
🪅 FTX co-founder SBF still insists that he is innocent
🪅 OpenAI plans to announce a competitor to Google Search next Monday
🪅 BTC options with a nominal value of $1.2 billion and ETH options with a nominal value of $800 million are about to expire
Thank you for your likes and attention, and don’t get lost in the future!
