Good morning everyone~
During the May Day holiday, the overall market trend was quite good, and based on the latest market行情, it can still continue to rise. The key resistance level to watch this week is around 85,000. Personally, I believe the upward trend structure is still intact, and the recent volume has not yet ended, making it relatively easy to reach. Therefore, in the short term, the market direction is bullish, and it is recommended to buy on dips.
From a weekly chart perspective, it’s clear that the market has already entered a major downtrend, but the weekly W-shaped pattern has given a clear bullish signal. Looking at a longer cycle, the target is around 87,000, as there is strong resistance near that level. Additionally, the monthly chart shows the market gradually forming a large V-shape pattern. Whether it can form a standard V shape depends on subsequent developments in US-Iran relations, Federal Reserve policies, and other related news.
Overall, the market is gradually warming up, while most mainstream altcoins are still catching up. The overall performance has not yet broken out of the current market state. For those who have not yet bought spot and are currently in cash, it’s advisable to buy gradually on dips to build positions. I mentioned this at the end of last month. For those who have already bought, it’s better to wait and observe.
I personally believe that recent upward momentum has also been supported by continuous buying from crypto ETF institutions. Therefore, it’s important to pay attention to subsequent institutional activities. Yesterday, the net capital inflow from institutions was about $247 million, and trading volume was decent, indicating that institutions are actively buying in the short term, and the overall outlook remains bullish.
Thus, today’s BTC fluctuation range is approximately 80,000-83,500, ETH is around 2,330-2,450, and SOL is roughly 85-89.
Today’s contract strategies:
BTC: Buy on dips around 80,500, take profit at 83,000
ETH: Buy on dips around 2,350, take profit at 2,420
SOL: Buy on dips around 86, take profit at 89
Warm tips:
1. Stop-loss suggestions should be set based on your actual liquidation price and your risk tolerance.
2. Don’t be greedy; take profits and secure gains. It’s better to take small losses than to hold onto losing positions. If the direction is correct, continue to hold.
