Market Review (

BTC's long-term chart is confirming a bottom formation, and the trend is starting to reverse. The downward momentum is weakening, and the weekly chart is about to enter an upward trend. The upside potential may not be significant, but the price is likely to test around 80,000.
There is space for a rise to 77000+ in the medium term, and the strength of the upward trend is still increasing. However, there is no volume to support the price, so the price cannot rise temporarily. Moreover, the price is also under pressure around 71000. MA30 is about to enter the accelerated upward range, but MA60 will remain horizontal for a period of time. The support in the medium term is around 67000.
12-hour cycle pump trend intensity is weakening, and there is a significant upward deviation in the market. There is a need for a pullback. The recent support is still around 67000.
In the 6-hour cycle, the price has stopped rising and is now in a sideways oscillation. Moreover, the strength of the trend last week has weakened under the influence of sideways oscillation, and there is a clear upward deviation, indicating a need for pullback.
The 1-hour cycle is currently in a pullback action. It remains sideways with no significant fall in price. Moreover, the deviation has not been corrected due to asynchronous trends. However, the entire market is now in need of a pullback, except for the daily chart. The pullback may not necessarily appear in the form of a trend, so this kind of sideways movement is expected to continue for several more days. It has been challenging to operate in the recent market conditions.
The long-term trend of ETH is starting to bottom out, and the downward momentum is weakening significantly. There is potential for the price to reach above 5000, provided that the closing price this week is higher than 3454.
In the mid-term trend, the price appeared in the form of extreme surges, which caused a significant upward deviation in the mid-term market. There is a demand for pullback, but the current upward trend is still strengthening, and there is also bullish trading volume supporting the trend. Therefore, the price is still continuing to rise. Currently, ETH is facing resistance around 3700 in the mid-term, and it has not yet made an effective breakthrough.
12-hour cycle also requires a pullback, with recent support around 3660.
1-hour cycle is also in the pullback action, but the price does not fall, and even tries to reach new highs. This has weakened the intensity of the pullback downtrend, which is caused by the strong uptrend in the slightly longer cycle.
Conclusion: Do not take any action on the market for now, as it is in a highly divergent state. The upcoming pullback is also uncertain in terms of its form.
ETH's pullback price needs to reach around 3600 first. If the subsequent pullback appears in a sideways pattern, there will be no trades to be made this week. If there is a trend, you can consider taking advantage of the pullback depending on the situation. However, it is important to pay attention to significant nearby support. However, I do not recommend shorting the market, whether it is ETH or BTC.
Yesterday's long positions, whether it's BTC or ETH, need to be reduced. At least withdraw the principal and most of the profits first, because we don't know how the pullback will appear next. 【May 21, 2024 22:47:44】Currently still in a profitable state, don't let the profits shrink too much. If such a large profit can turn into a loss, then it's indescribable.
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Now, for friends who are trapped in short positions, do not take any unnecessary actions. The best course of action now is to reduce positions and set stop losses, and then stay put. Even if stop losses are not set, positions should still be reduced. This is because the overall market is currently deviating from normal conditions and there is a demand for pullbacks. However, in such an excited market sentiment, any unexpected event can occur.
The logic of the stop loss is that when the stop loss is triggered, the original trend or trend is disrupted, and there is no need to hold on, so the stop loss should not be moved casually in general.
If BTC is going to reach 75000+ within the next week, then the pullback in the 12-hour cycle must be resolved through the trend, and the recent support is at 67000.
Regarding op and arb, I personally prefer arb more, but op is not bad.
The next short-term operations will be mainly short positions, but please pay attention to stop loss and take profit frequently. Also, do not touch the general market and do not short the general market.
Luna【Swallowing Heaven and Earth】, the long-term upward deviation has been completely repaired, except for a break below the previous low, which cannot be determined whether it is an effective break for the time being. However, the downward trend intensity is weakening, which means there is room for pump. In the medium-term market, the price has approached EMA30. Next, there must be an action to cross EMA30, and when the price retraces, it should not be lower than 0.55. Then, maintaining oscillation is the suitable entry timing for Spot. √
69800's short order [Lucky Cat that Controls Hands], reduce position and set stop loss. The stop loss is set at 71500. Reduce position first and then set stop loss. ← Cancelled, new suggestion [May 21, 2024 21:24:06], if the price falls below 69500, reduce position and then set stop loss around 70700. See if it can be profitable. √
3200 short order, 3500 short order [Good life, XMC], reduce position, set stop loss. Within this hour, if the pullback on the 5-minute chart can fall below 3760, then wait a little longer. [Already exited] √
Bome【凛冬已过】, the entry logic is fine, typical 2B structure, in the mid-term upward trend, but the price needs to break through the important resistance near 0.126 in the mid-term. After the breakthrough, there will be more room for growth. There are two stop loss points at the current position, if holding for a longer period, set it at 0.117, if it is just a short position, set the stop loss at 0.118.
Doge【博浛】, the long-term trend is starting to bottom out, and the downward trend is weakening, indicating that the long-term trend is about to turn into a pump trend. So if it is spot, hold it steady. √
Mubi【8e03】, in terms of the medium-term trend, has fallen too much and there is no obvious rebound in the middle. The current downward trend is weakening, but the liquidity is relatively poor. Therefore, there should be a medium-term rebound in the future [daily level]. It is not known how it will develop and the fundamentals of this coin are not very clear, so it is not recommended to buy. If you think there is still a chance for it to rise in the future, you can buy 100~200 yuan to play with. But I really don't recommend buying too much [spot] √
Lrc【zj crystal】if it just reached the cost price, long-term pullback didn't break the support near 0.22, then the trend began to reverse, and the strength of the downtrend weakened, so there's nothing to worry about. Just hold on. √
Blur [Take Off and Fly High 1988], the long-term pullback of the trend has been completed, and the recovery is good, with room for pump. However, there is a downward movement, so it is still very risky. Hold it for a month to see if it can break through the resistance near 0.53. If it doesn't, withdraw all, as it may be in trouble. √
Jto 【dealer grandpa】, in the medium term, is in a volatile upward trend and is starting to enter a medium-term pullback. There is still downward potential in the short term, with the nearest support around 4.0. √
People [it is difficult to earn some living expenses] 0.075 cannot be reached in a short time, but the altcoin, the trend cannot be expressed by the law of the market, but at least before that, a medium-term pullback is needed. The current trend is synchronized and will continue to rise, with the recent short-term pressure around 0.055. For the time being, this orders can continue to be taken. √
Ferc【zj Crystal】, in the mid-term, it is still in a downward trend and has relatively poor liquidity. Even if you want to buy, you need to wait for a trend reversal. After breaking the resistance near 0.044, you need to observe the pullback status. √
Ethfi【b51b】, through observation of the medium-term trend, the conclusion can be drawn that the medium-term trend has begun to change and enter a pump trend. However, at least from a 6-hour timeframe, there is no more room for an upward movement and there is a pullback demand. Therefore, it is not recommended to enter long positions, which is very risky. √
Pepe【It is difficult to earn a living】and technical analysis is ineffective. Because in terms of space, long-term pullback is simply not enough for a pump, but the price has already reached a new high. There is upward potential in the medium term, and the upward trend is strengthening.
Doge, shib【卒迹】, is expected to experience a pullback in the short term. So if you are holding long positions, especially for such altcoins, it is advisable not to go too big and set stop loss properly. Set the stop loss for Doge at 0.161, and shib is relatively riskier. It is not recommended to continue holding. √
Bvm【ef4d】, in terms of the mid-term trend, is in a downtrend. If it fails to enter a mid-term rebound trend within about 3 days and cannot break through the mid-term resistance near 2.33, coupled with poor liquidity, it will be very dangerous. √