Analyst Lianqiu: Market analysis of BTC and ETH for the evening of 5.5

After Bitcoin/Ether's rapid decline in morning trading, Ether has generally rebounded slightly, however, Bitcoin's overall trend has already weakened. In previous texts, it has been repeatedly mentioned that Bitcoin mainly pays attention to the level of 95000. If it breaks through, the market will continue to fall. Based on the MA indicators on the daily chart, Bitcoin has currently broken through the 7-day and 10-day moving averages at 95000 and the moving averages have started to slope downwards to form a reversal. The main attention in the evening is on the resistance at 95000 from above, and from below is the next short-term support at 92000. Ether's previous rally was relatively small, and the current rebound cannot reverse the overall trend, so it is necessary to act at the same time as Bitcoin.
BTC ETH has recently shown continuous black candles on the K-line, indicating a continued decline in prices. Long upper shadows and large black candles have appeared on the daily chart, which suggests strong selling pressure in the market. On the technical indicators, the MACD on the 4-hour period is in the negative territory, and the MA lines are diverging downwards, clearly indicating a bearish trend. In such cases, when the daily line shows slight declines without significant volumes, the situation may worsen further.
In the evening operations, Lianqu proposes to open short positions on BTC in the range of 94200 to 94500, with a target of 92300; on ETH in the range of 1810 to 1820, with a target of 1740.
The analysis of the strategy is limited every day, the market has volatility, specifically focus on real-time. #Gate.io 空投发现指南 #五月行情预测 #GORK 热度飙升