Yueying: Bitcoin and Ethereum Market Analysis for May 12th - Bulls and Bears Clash, Deep Drop Imminent? Latest Strategy Included

Looking at the daily chart for Bitcoin, the previous candlestick closed as a solid bullish candle, but the opening price today did not continue this upward trend and instead encountered resistance near the upper Bollinger Band, pulling back. The Bollinger Bands are widening upwards, and the short-term moving averages are trending upwards. The MACD fast and slow lines are turning downwards with decreasing volume. The KDJ has turned downwards and is showing support around the 50 level. The VR indicator is consolidating around the 210 level. On the 4-hour chart, the price briefly broke through the middle Bollinger Band before rebounding and is currently trading above 81000. The Bollinger Bands are narrowing horizontally, and the short-term moving averages are trending upwards. The MACD fast and slow lines are moving horizontally and narrowing with decreasing volume. The KDJ is turning upwards, and support is seen around the 0 level. The VR indicator is consolidating around the 130 level. Overall, after an early morning rally followed by a sharp drop, the price is now oscillating upwards again, maintaining an upward structure. At this stage, it is not advisable to chase the price higher, especially after new highs. Yueying believes that for the price to rise further, a deep pullback is necessary to solidify support. Although there have been minor pullbacks since the bottom around 65000, they have not been thorough enough. Therefore, any strong upward movement should be watched for a potential pullback. For short-term support, continue to watch the 80,000 area. For resistance, watch the 83,800 area. See short-term suggestions below. Bitcoin short-term suggestions: Buy at 80,500, Sell at 83,300 (Take profits as needed). Ethereum is maintaining a wide range of fluctuations today, rebounding after finding support around 2300. It is currently trading above the 4-hour moving average. The overall trend is similar to Bitcoin. Short-term resistance is around 2450, and support is around 2250. See short-term suggestions below. Ethereum short-term suggestions: Buy at 2300, Sell at 2420 (Click the image to see the homepage introduction for more cryptocurrency 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!