Today's Market Analysis from LBank Derivatives - LBank Exchange - Medium
May 14th, 2023
LBank Exchange
LBank Exchange

In the past two days, the BTC market has been primarily focused on bottoming out and consolidating. Currently, the 4-hour chart is at the bottom of a wide-ranging oscillation. This position is in line with the previous support level, indicating a minor rebound is likely. It is recommended to wait for the market to stabilize and avoid trading plans in this area for the time being.

The ETH 4-hour chart continues to show a bearish trend, with the price being suppressed along the upper edge of two lines. It is anticipated that the market will continue to oscillate. The recommended strategy is to short on rebounds, following the trend line and placing stop-loss orders once a breakout occurs.

Notable Altcoins

BSV

The BSV 4-hour chart experienced a surge in volume and a successful breakout of the previous downward channel yesterday. The current market is in an oversold rebound phase. It is advised to enter the market on short-term pullbacks and target a second wave of rebounds. Be sure to take profits in a timely manner, as many positions are locked in at higher prices.

The PEPE 4-hour chart has seen a 65% decline since its listing on Binance. The current position indicates an oversold rebound. The suggested approach is to buy in with a light position at the bottom trend line and go long. Aim for taking profits around 24 and focus on short-term rebounds.

LBank perpetual contracts are settled in USDT and are not inverse contracts. There is no expiration or settlement of perpetual Contracts. We now offer BTC, ETH, DOT, SOL, and over 100 other popular cryptocurrencies as perpetual contracts.

Leverage is available between 1–125x. One of the key benefits of USDT-settled contracts is that you can easily calculate your returns in fiat. When the market suffers a wild fluctuation, this tool can help you lower your risk.

**Website: **https://lbank.com**Twitter: **https://twitter.com/LBank_Exchange**Facebook: **https://www.facebook.com/LBank.info/**YouTube: **https://www.youtube.com/c/LBankExchange**Telegram: **https://t.me/LBank_en**LinkedIn: **https://www.linkedin.com/company/lbank**Medium: **https://medium.com/LBank**Reddit: **https://www.reddit.com/r/LBank2021/

Disclaimer: The opinions expressed in this blog are solely those of the writer and not of this platform.

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