Technical analysis by trendtraderkarl about Symbol BTC: Sell recommendation (5/16/2023)

BTC resistance is under pressure and will continue to fall BTC yesterday's high was around 27660, and its low was around 26720. After a wave of gains yesterday morning, Dabing began to fluctuate sideways. Currently, BTC is running above 27,000. According to the data on the chain, there are many lock-ups above 27,000. In such an environment, I want to go straight up It is still difficult, and it will take time to consume chips. This week, the officials of the Federal Reserve will speak a lot and it is expected that the market will fluctuate repeatedly. The daily line level received an inverted hammer yesterday, indicating that the upper selling pressure is relatively large, and the Bollinger Bands are running upwards. Suppressed by the Bollinger upper rail 27600, MCAD began to shrink. The 4-hour level returned to the vicinity of the lower edge of the box, the Bollinger Bands were in the converging mouth, supported by the Bollinger Middle Rail 26800, and MCAD began to shrink. Intraday operations can be called back into more. The lower part focuses on the support of 26300-26500, and the upper part focuses on the pressure of 28000-28200. It is recommended to short wet positions near 27800, place the stop loss above 28200, and target 27300-27000. Do long wet positions near 26800, place the stop loss below 26400, and target 27300-28200. Ethereum’s high point was around 1846 yesterday, and its low point was around 1785. Ether went up yesterday morning and returned to above 1800, and then began to fluctuate. In the evening, it linked with the US stock market to go up, and then began to fluctuate downward. The overall fluctuation is not large. Therefore, the market outlook is expected to be strong, and those who have positions in their hands can continue to hold them. The daily level is in a sideways trend, the Bollinger Bands run in parallel, suppressed by the Bollinger Middle Rail 1860, and the KDJ Jincha spreads upward. The 4-hour Bollinger Bands are in the converging mouth, supported by the Bollinger lower rail at 1780, and MCAD shrinks down. Intraday operation can buy low. Focus on 1730-1750 support at the bottom and 1860-1880 pressure at the top. It is recommended to short wet positions around 1860, place the stop loss above 1890, and target 1830-1810. Do long wet positions near 1750, place the stop loss below 1720, and target 1780-1830. The market is ever-changing, and the specific operation is mainly based on real-time strategies. If you want to make money steadily in this market, then please contact me! A professional trader can help you make money steadily