Reviewing the intraday market, overall it still retraced and repaired down below 80,000 before entering a short-term low-range sideways consolidation. The intraday trend neither bulls nor bears could establish a strong continuation. Early morning signals suggested going long, and again in the morning, a pullback to 79k was recommended to continue long positions. It was also clearly pointed out that after the afternoon rebound, a short position should be taken immediately. The afternoon and evening market movements verified our proposed strategy. Looking back at the intraday real trading, the two long positions on Bitcoin set up in the early morning and the evening short positions accumulated over 2,500 points in profit. Today’s real trading also achieved precise long and short gains. Our strategy and approach have been repeatedly emphasized. If such market conditions still cannot be accurately grasped, it might be worth trying to follow Hao Yu’s rhythm. Perhaps a small choice could greatly change your current situation.

Looking at the Bitcoin daily chart, the price experienced three consecutive bearish candles, quickly retraced and repaired near the midline, then tested support below. Currently, it formed a small rebound with a slight bottoming out on a bullish candle. The overall daily chart pattern still revolves around a triangle range, maintaining steady operation. The current upward trend remains stable, and the medium- to long-term outlook still favors the continuation of the upward trend. In the short-term hourly chart, the continued rise of the US stock market has driven the price to break above the upper band with a large bullish candle, forming a short-term overbought condition. The price tested support below 79k, showing a bullish engulfing pattern with a slow upward oscillation. From the recent market performance, it remains difficult to see a strong continuation at this position. After the overbought condition, we expect a correction and repair during midnight and early morning, with rebounds suitable for shorting and layout.

For Bitcoin, short around 80,000-80,500, watch near 79,000. For Ethereum, short around 2,270-2,280, watch near 2,220. #Gate广场五月交易分享