Yueying: Bitcoin and Ethereum Market Analysis (May 14th) - Short-Term Top? Can the Daily Middle Band Still Be Relied On?

The upside potential for Bitcoin at the current price is limited. Looking at the daily chart, the price has fallen below the moving average after three consecutive bearish candles, and the intraday opening price continues the downward trend. The Bollinger Bands are trending upwards, while the short-term moving averages are turning downwards. The MACD fast and slow lines are moving downwards with increasing volume. The KDJ is extending downwards; watch for support near the 0 level. The VR indicator is consolidating around 190. On the 4-hour chart, the price fell below the 60-day moving average after being resisted by the middle Bollinger Band, and is currently testing support around the lower Bollinger Band. The Bollinger Bands are widening, the short-term moving averages are trending downwards, the MACD fast and slow lines are moving downwards below the 0 axis with increasing volume, the KDJ is turning downwards and will cross; watch for resistance near the 50 level. The VR indicator is consolidating around 130. Overall, yesterday's market rebounded slightly after testing 80,000, but the strength was limited. The market then tested lower again, showing signs of weakening after encountering resistance at higher levels. There's a possibility of a consolidation within an upward structure. However, in the short term, the support of the daily moving average around 79,000 is still worth testing. See short-term recommendations. Bitcoin short-term recommendation: Buy at the current price of 79,260 (take profits as needed after strategy activation). The previous long position on Ethereum at the current price likely didn't move more than $60. The overall trend analysis on the daily and 4-hour charts can be referenced in tandem with Bitcoin. Short-term resistance is around 2380, and support is around 2200. See short-term recommendations. Ethereum short-term recommendation: Buy at the current price of 2250 (Click the image to see the homepage introduction for more coin analysis). —I am Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading or trends, feel free to discuss and learn with me! Let's exchange ideas and profit together!