5.23 Ether and Bitcoin bottomed out at a small level, while copycats are moving slowly.
ETFs are still the hottest in the market. Eric Balchunas, an ETF analyst at Bloomberg, said that we will receive news from the SEC (about spot Ethereum ETFs) around 4 p.m. EST tomorrow (4 a.m. Friday Beijing time).
It is expected that the 19B document will be passed, but the S-1 will not be passed immediately. It is expected that it will take some time for the official listing, so even if the hype of ETFs falls back in the short term, it still has the expectation of hype.
Bitcoin falls back below 70,000. If it does not fall below 68,500 in the short term, long positions can continue to enter the market. It is expected that at the end of the month, May 31, or tomorrow, longs and shorts will play around 70,000 again. It is expected that there will be a chance to pull the market to around 71,500 and then settle some long chips. After that, it depends on the subsequent chip push. It is expected that it may fall back again in a short period of time. Just take one step at a time.
Nvidia's financial report exploded, which is related to the AI track project. After the MEME sentiment ends, the trend of AI will continue. Just pay attention to the ambush. The second is about the fan section of CHZ. You can go up at a reasonable position.
Daily level market
- There is a logic of callback after the daily level breaks through the upper pressure. The large-level rise is mainly based on the small-level callback. The bottom key support is around 68500 or even around 67500. The upper pressure is around 70000.
4-hour level market
The 4-hour level breaks through the slow rise trend. In the short term, it is still a small-level callback trend. Multiple 4-hour supports are effective. Pay attention to the rebound near 68800-68500 if it does not fall below. The upper pressure position is around 70000, and it is still a downward trend in the short period.
Intraday level analysis
-----Bitcoin is still in a downward trend during the day. If it reverses, it will also need to repair the market for a period of time. The 4-hour support position will rebound. The upper pressure is around 70000, 70500 and 71500. The key support below is around 67500. If it rebounds to around 70500 in the short term, you can choose to enter the short position. The support will be around 68500 and 68000 step by step. After the short-term correction sentiment ends, the bulls will be the main focus.
After Bitcoin stabilizes, the small market of the cottage will also come back. The weekend should be the time when most cottages are repaired, or many strong ones or those that fall too much on Friday will reverse, but we have to wait for the profit-taking of Ethereum to leave and the bottom of the small level. For the time being, the bulls will wait.
The market has changed very quickly recently. If you want to adjust your position or don’t understand the trend, you are welcome to communicate and learn. #BTC突破7万大关 #ETH $BTC
