5.5 Market Analysis

Today is Monday, and the U.S. CME futures opened at 6 AM. In the past, after experiencing two days of low volume fluctuations over the weekend, the volatility increases on Monday because both bulls and bears have accumulated enough positions, and today is no exception.

Bitcoin experienced a sharp drop at six o'clock, falling to around 93,700 at one point, with significant volume, directly breaking through the hourly EMA200 key support level, which is 95,000. Tonight, when the U.S. stock market opens, it is highly likely to continue the downward trend. If it goes down, the first support level is 92,000-92,500; if it breaks below that, it could reach 89,000-90,000.

The market has already experienced a reversal. Personally, I believe the bullish trend has ended. Be cautious when trying to buy the dip, and based on the principle of going long rather than short, everyone can patiently wait for opportunities. When in cash, spend more time reviewing and learning, and participate only when the situation is clear.