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

Market Review

Yesterday, BTC remained volatile with a low rebound amplitude, the main trend still bearish, the 4-hour upward trend began to weaken, 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 mild bearish divergence, pay attention to volume changes, wait for 4-hour confirmation before considering following short positions.

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

Brent crude oil is more affected by fundamentals, 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 worsened again, changing rapidly day by day, continue to follow the latest developments.

Mainstream coins support and resistance levels for today:

For today’s intraday market, BTC support is at 79,000-79,500, resistance at 81,500-82,000; ETH support is at 2,250-2,300, resistance at 2,350-2,400.