May 15 Price Analysis: A Shift is Coming, BTC Double Top Faces Pressure Again, Has ETH Confirmed the Downtrend After a Long Consolidation?
On the daily chart for BTC, the short-term price structure is clearer. Bitcoin attempted to break above 83,000 for the first time on May 6 but failed and retraced. On May 11, a second attempt also couldn't effectively surpass the previous high. After two failed tops, a clear double top pattern is forming on the naked candlestick chart, leading to a weakening trend as it begins to test previous low support levels.
On the upside, 82,000 USD is the first psychological barrier, which has previously served as a boundary for price testing multiple times. If the price cannot break through here, the short-term downtrend will be hard to reverse. On the downside, 79,200 USD is the recent short-term support level, while 78,800 USD is the previous swing low support where the price had previously bounced. The critical range further below is between 76,000 and 77,000 USD.
For ETH on the daily chart and lower timeframes, ETH's performance is clearly weaker than Bitcoin. The current price is oscillating between 2,285 and 2,300 USD, showing typical characteristics of a low-volume consolidation. On the 4-hour chart, the price is caught in a narrow range between EMA50 (around 2,275) and EMA20 (around 2,318), with neither an upward breakout nor a downward breach.
On the downside, 2,250 USD is the most urgent defensive line, where EMA50 is located, and it is also near the daily low from May 12, which has seen multiple tests without breaking. If this area is lost, the next support is at 2,020 USD. On the upside, 2,310 to 2,320 USD is the near-term resistance zone, with 2,318 as the 24-hour high and around 2,320 being the intersection of the 4-hour MA30 and MA120. Stronger resistance is found between 2,336 and 2,367 USD, an area where previous support has turned into resistance, tested multiple times without effective breakouts. Recent trading has been suboptimal; consult btc0796 for market discussions.
Trading Recommendations:
BTC Short at 81,500-82,000 with a target of 78,000 - 76,000, stop-loss at 82,500.
ETH Short at 2,310-2,350 with a target of 2,200 - 2,000, stop-loss at 2,390.
The views, conclusions, and suggestions in this article are for reference only and do not constitute investment advice. The market carries risks, and investment should be done with caution. $BTC $ETH
On the daily chart for BTC, the short-term price structure is clearer. Bitcoin attempted to break above 83,000 for the first time on May 6 but failed and retraced. On May 11, a second attempt also couldn't effectively surpass the previous high. After two failed tops, a clear double top pattern is forming on the naked candlestick chart, leading to a weakening trend as it begins to test previous low support levels.
On the upside, 82,000 USD is the first psychological barrier, which has previously served as a boundary for price testing multiple times. If the price cannot break through here, the short-term downtrend will be hard to reverse. On the downside, 79,200 USD is the recent short-term support level, while 78,800 USD is the previous swing low support where the price had previously bounced. The critical range further below is between 76,000 and 77,000 USD.
For ETH on the daily chart and lower timeframes, ETH's performance is clearly weaker than Bitcoin. The current price is oscillating between 2,285 and 2,300 USD, showing typical characteristics of a low-volume consolidation. On the 4-hour chart, the price is caught in a narrow range between EMA50 (around 2,275) and EMA20 (around 2,318), with neither an upward breakout nor a downward breach.
On the downside, 2,250 USD is the most urgent defensive line, where EMA50 is located, and it is also near the daily low from May 12, which has seen multiple tests without breaking. If this area is lost, the next support is at 2,020 USD. On the upside, 2,310 to 2,320 USD is the near-term resistance zone, with 2,318 as the 24-hour high and around 2,320 being the intersection of the 4-hour MA30 and MA120. Stronger resistance is found between 2,336 and 2,367 USD, an area where previous support has turned into resistance, tested multiple times without effective breakouts. Recent trading has been suboptimal; consult btc0796 for market discussions.
Trading Recommendations:
BTC Short at 81,500-82,000 with a target of 78,000 - 76,000, stop-loss at 82,500.
ETH Short at 2,310-2,350 with a target of 2,200 - 2,000, stop-loss at 2,390.
The views, conclusions, and suggestions in this article are for reference only and do not constitute investment advice. The market carries risks, and investment should be done with caution. $BTC $ETH