5.21 Morning Market Update:
Current market sentiment is heavily bearish, but Bitcoin is holding steady.
The weekly MACD has formed a golden cross above the zero line, and there has yet to be an upper shadow in the six consecutive weekly gains, showing no signs of trend reversal. Each wave of the rise from April to May has been around 10,000 points, typically followed by a high-level consolidation, during which indicators are repaired over one to two weeks, ultimately concluding with a breakout to the upside.
Do not blindly try to pick the top during an upward trend; the previous adjustments are often traps for shorting.
🔥 Hotspot Analysis:
1. DeFi Sector: COW, KMNO, AAVE, PENDLE, etc. are rising; the U.S. has passed a stablecoin bill to promote regulatory compliance.
2. Newly Listed Coins: WCT hits a new high, SXT is rising. Newly listed coins have concentrated chips and are easily manipulated.
3. Meme Sector: MOONPIG surges, with backer James Wynn opening an $800 million long position at 40x leverage on Hyperliquid.
