Gu Jingci: Bitcoin/Ethereum Morning Trading Strategy with Market Analysis (May 23)

Bitcoin/Ethereum experienced a sharp drop overnight, as previously emphasized, with a plunge to 73,000 and 2050. Ethereum reached this level as predicted, while Bitcoin is still somewhat behind. The current rapid decline is being watched closely to see if the previous daily lows of 74,900 and 2050 can provide support. A large bearish candlestick with significant volume appeared on the 4-hour chart, confirming the acceleration of the downtrend and effectively breaking through the 2100 and 77,000 psychological levels. The latest 4-hour candlestick is a small-bodied bearish candlestick with significantly reduced volume, indicating that the bearish momentum has weakened at the current lows, and the market has entered a brief consolidation or hesitation phase, but no clear signal of a bottom has yet appeared. The daily chart shows a large bearish candlestick with high volume, indicating that the bears dominate the market, and the price has reached a new recent low. Technically, both the DIF and DEA lines are below the zero line, with the DIF line below the DEA line. The MACD histogram is negative and expanding, indicating that the market is in a strong downtrend with the bears in control, but the possibility of an oversold rebound should be considered. Both buyers and sellers are currently cautious at low levels, which may indicate a slowdown in the downward momentum in the short term, but there is a lack of sufficient buying support to reverse the trend. Trading recommendations: Buy Bitcoin around 75,000 to 75,300, with a target of 77,000 to 78,000; Buy Ethereum around 2,050 to 2,060, with a target of 2,100 to 2,130, and further targets of 74,000 and 2020.