Bitcoin and Ethereum Market Analysis on May 24th

Bitcoin fell back after breaking the new high of $111,950, with a low of $108,549 (a drop of 2.8%), closing at $108,800; Ethereum surged to $2,690 and then dipped to $2,553 (a drop of 5%), closing at $2,560. The main reasons for the volatility include expectations regarding Trump's tariff policy and the Federal Reserve's interest rate cuts, the demand for Bitcoin TD6 technical repairs, as well as the inflow of Bitcoin ETF funds and the release of pressure from long-term holders. Additionally, Trump's threat to impose a 50% tariff on the EU triggered market risk aversion, leading to a sharp decline in U.S. stock index futures, which indirectly exacerbated the selling pressure in cryptocurrency.

Bitcoin Analysis

Daily Level: The price of the coin fluctuates around the MA5 moving average, the TD indicator has entered the TD6 phase, and MACD and KDJ show a divergence at high levels, indicating strong demand for a short-term pullback. If it stabilizes above MA5, it may rise to $112,000; if it falls below, it may test the MA7 moving average, with on-chain data showing that the long-term holder cost of about $81,000 provides strong support.

4-Hour Level: The price of the coin is operating below the MA14 moving average, MACD is showing reduced bullish momentum and signs of a death cross, indicating a tendency for a short-term fluctuation recovery. Watch the resistance level at $109,500; if it stabilizes, it may rebound to $110,500; if under pressure, it will continue to decline.

Trading Strategy: Focus on short positions, short at $110,900-$111,600 with a stop loss at $112,500, and target between $110,000-$108,000.

Ethereum Analysis

Daily Level: The morning surge formed a double top test, with MACD continuing to reduce volume, indicating significant pullback pressure in the short term. The key support below is at $2,580; if it breaks, it may test the MA14 moving average; if it stabilizes, it will rely on the MA200 moving average to challenge the yearly line ($2,850).

4-Hour Level: The price of the coin is fluctuating near the MA14 moving average, with MACD showing reduced bullish momentum, indicating a weak short-term stance. Pay attention to the effectiveness of the support at $2,580; if it breaks, it may test the MA60 moving average; the rebound resistance is at $2,650.

Trading Strategy: Focus on short positions, short at $2,630-$2,660 with a stop loss at $2,703, and target between $2,580-$2,550.

Risk Warning

The implementation rhythm of Trump's tariff policy, expectations of Federal Reserve interest rate cuts, and SEC approval dynamics may trigger volatility; caution is needed regarding the high-risk area of the Bitcoin TD indicator and the double top testing pattern of Ethereum.

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