May 9 Bitcoin and Ethereum Market Analysis: BTC, ETH Highlights for Today



Market Review

Yesterday, BTC remained volatile with a low rebound range, the main trend still bearish, the 4-hour upward trend slightly broke support, continue to monitor rebound conditions today, watch for decreasing volume, consider short positions when appropriate, the daily chart remains in a sideways upward movement, showing slight bearish divergence, pay attention to volume changes, wait for 4-hour confirmation before considering following short positions.

ETH moved in sync with BTC, with a slight pullback, staying within the 4-hour consolidation zone, waiting for a rebound, consider shorting when appropriate, the daily chart remains in a range-bound oscillation, monitor upward volume changes today, follow short positions after rebounds, the main trend remains bearish.

BZ crude oil is more affected by fundamentals, oscillating around the 98-100 range, traders holding short positions can partially reduce holdings to lock in profits, remaining positions wait for a pullback to the normal range (60-70).

Fundamental news: The US-Iran situation has improved again, changing rapidly day by day, continue to monitor the latest developments.

Main support and resistance levels for major coins today:

In today’s intraday market, BTC support is at 78,500-79,000, resistance at 81,000-81,500; ETH support at 2,250-2,300, resistance at 2,330-2,380.
BTC0.38%
ETH0.02%
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