Zhou Yanling: 5.24 Bitcoin and Ethereum Latest Trend Prediction Analysis and Trading Strategy
Last night's pullback was just a retracement adjustment. It is still too early to say that a trend reversal has occurred, especially since this pullback was only about 5000 points. In this situation, what we need to determine now is the pattern. Currently, the price has broken out of the bottom triangular consolidation structure and has achieved a trend level break at the high of 111900, resulting in a continued upward performance. However, this is not an independent surge; it is characterized by repeated fluctuations, consisting of two segments that share similar angles, attributes, and amplitudes. So you can understand why 110000 serves as a critical watershed for the price to reverse downward, right? This wave has already retraced the extended gains and has not encountered any obstacles in its straight decline. Therefore, what we need to do next is to wait for the right opportunity and prepare to enter long positions at lower levels.
From a technical perspective, the Bitcoin price is currently slightly below the 50-period Simple Moving Average (SMA 50) on the 4-hour chart, which is a short-term bearish signal. It is also below the 200-period Simple Moving Average (SMA 200), indicating that the market is in a bearish state in the short term, with the possibility of further retracement. The 4-hour RSI is currently around 55.12, in the neutral zone, indicating that the market is neither overbought nor oversold. The RSI has not entered the overbought zone (>70), so there are no obvious top signals in the short term. If the RSI falls below 60 and a reversal signal appears, it would suggest that a short-term bottom is forming, at which point suitable low-level long positions can be sought. The hourly MACD is in the negative zone, and the fast and slow lines are gradually approaching the zero axis, indicating that selling pressure is weakening, and a rebound may occur in the short term. The current price is above the EMA7 but below the EMA30 and EMA120, indicating that the overall trend remains strong.
Zhou Yanling's 5.24 Bitcoin Trading Strategy:
Long at 107800-108600, stop loss below 106800, target 110000-111000
Short at 111400-110600, stop loss above 112400, target 109500-108700
Zhou Yanling's 5.24 Ethereum Trading Strategy:
Long at 2470-2510, stop loss below 2430, target 2570-2615-2650
Short at 2650-2600, stop loss above 2700, target 2540-2500
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This content is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years and currently mainly analyzes and guides BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. For more real-time community guidance, consultation on position liquidation, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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