Zhou Yanling: May 7th Federal Reserve Decision Approaches - Latest Market Trend Predictions and Trading Strategies in the Cryptocurrency Space
As the Federal Reserve decision approaches, the cryptocurrency market has already begun to set the pace for the market, haha. Currently, it is maintaining a high-level consolidation, but the undercurrents are hard to ignore. The latest interest rate decision from the Federal Reserve will be announced at 2:00 AM Beijing time on Thursday, with Powell's press conference starting at 2:30 AM. This meeting will not release the latest Summary of Economic Projections (SEPs), and the updated forecasts will have to wait until the June meeting. After the recent significant ups and downs in cryptocurrency prices, it is not ruled out that there will be another round of market washing ahead of the Federal Reserve decision, but the essence of the upward trend remains unchanged, and the foundation for the rise is still there. Yanling believes that any significant sell-off or rapid pullback in the recent market is an opportunity to enter. In a bull market, the main strategy is to go long on pullbacks, while shorting on rebounds should be limited to small short-term strategies. This is both a principle and a discipline: buy heavily on large dips and buy lightly on small dips.
From the market trend perspective, the current cryptocurrency price is fluctuating in the range of 96,000 to 97,000, forming a narrow consolidation pattern. The daily chart shows signs of high-level consolidation after a continuous rise, facing short-term pullback pressure, with support around 95,000. The technical indicators show that the hourly MACD is in the positive zone, but the red bars are shortening, indicating a weakening of bullish momentum, and a death cross signal may appear. The hourly RSI is close to the overbought zone (64.38) but has not entered extreme overbought territory, so potential pullback risks should be monitored. The EMA7, EMA30, and EMA120 are all showing an upward trend, and the price is currently slightly below the EMA7, indicating strong short-term support. However, if it breaks below, it may test lower moving average support. A short-term pullback is also normal, but as long as the price does not break below 95,000 during the day, the overall trend remains bullish. The trading strategy should be executed with this mindset.
Zhou Yanling's May 7th Bitcoin Trading Strategy:
Go long at 95,300-96,000, stop loss below 94,500, target 97,200-98,000, continue to look for upward movement around 99,300.
Go short at 99,000-98,200, stop loss above 100,000, target 96,800-96,000.
Zhou Yanling's May 7th Ethereum Trading Strategy:
Go long at 1,780-1,810, stop loss below 1,740, target 1,850-1,880, continue to look for upward movement around 1,940.
Go short at 1,950-1,920, stop loss above 1,990, target 1,860-1,820.
[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 article 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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