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 surge in volume has not yet ended, making it relatively easy to reach. Therefore, in the short term, the market direction is bullish, and I suggest buying 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, on the monthly chart, the market is 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 slowly. 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 the recent upward push in the market has also been influenced by continuous buying from crypto ETF institutions. Therefore, it’s important to pay attention to subsequent institutional movements. Yesterday, the net inflow of institutional funds 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.
Today, BTC’s overall fluctuation range is 80,000-83,500, ETH’s is 2,330-2,450, and SOL’s is 85-89.
Today’s contract strategy:
BTC: 80,500 or buy on dips, take profit at 83,000
ETH: 2,350 or buy on dips, take profit at 2,420
SOL: 86 or buy on dips, take profit at 89
Warm tips:
1. Stop-loss suggestions should be set according to your actual liquidation price and your risk tolerance.
2. Don’t be greedy; take profits and lock in gains. It’s better to take small losses than to hold on stubbornly. If the direction is correct, continue to hold.
$SOL $ETH
