5.5 Evening follow-up market analysis, serious pressure above!
The afternoon market was once again accurately grasped, maintaining a long period of oscillation adjustment, followed by a slow decline. Currently, Bitcoin broke the point of 94,000, and Ethereum broke the point of 1,800. After breaking the point, there was no deep decline, but a quick rebound. In the afternoon, some positions in the short market were also closed.
At present, the overall trend is still downward. After the rebound in the afternoon, it oscillated for a long time above 94,500 but failed to break through the 95,000 level, making it a key short-term resistance level. Until the pressure support position conversion is completed, it is difficult to make progress. On the technical side, the four-hour technical indicators are still slightly diverging, and the currency price will continue to operate around the lower track in the short term. Before testing the bottom again, it is still difficult to achieve an effective rebound. On the hourly chart, after the previous downward test, bulls and bears took turns gaining the upper hand for some time, but the strength of the rebound is gradually weakening.
In terms of subsequent arrangements, it is still advisable to continue the previous strategy. Bitcoin looks to 93,000, and Ethereum looks to 1,750. Be cautious when entering the short market during the rebound process.
The short positions I hold are still being maintained, and I plan to withdraw once I reach the expected point.
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