5.23 Market Analysis

BTC

Bitcoin fluctuated and adjusted overall in the range of 1,100,000 to 1,120,000 from the early morning to noon. In the evening, the market significantly retraced due to tariff news, breaking below the 110,000 short-term support before continuing to rebound by 3,000. The daily closing formed a bearish candle that interrupted the upward trend of the past three days. The MACD is above the horizontal line, but the DIF shows a downward crossing trend with the DEA. The RSI is currently in a neutral zone, indicating that the market has not entered an overbought area, so there are no obvious top signals in the short term, and it may continue on a fluctuating adjustment path in the early morning.

At this stage, it is recommended that investors remain cautious. It is suggested to enter the market at lower levels and wait to see how the morning market changes. Resistance level at 1,120,000, support at 1,070,000.

ETH

Ethereum's price moved in tandem with Bitcoin. After fluctuating at night, it saw a surge in momentum in the morning, breaking above 2,700, reaching a high of 2,734. In the afternoon, the price gradually weakened and fluctuated downward, with a retracement of over 100 due to negative news in the evening.

In the short term, various moving averages are beginning to converge, and the MACD shows a death cross trend, indicating that the market lacks clear upward momentum in the short term. It is recommended to pay attention to the MA30; if it continues downward, consider reducing positions or adjusting strategies to avoid potential risks.

Key levels to watch: 2,600 upwards break to 2,680, downwards pay attention to position management and timely adjustments, with a support level around 2,480.

The possibility of a fluctuation and adjustment in the Silk Road market has increased. If the price breaks below the support level, consider shorting on the rebound; otherwise, it belongs to the adjustment phase, with the main trend still led by Bitcoin.

In conclusion, this rapid retracement indicates that the bullish trend is not over, and it is believed there will be a rebound to 110,000. In the short term, focus on the market trends for the weekend, as the recent slight decline is not significant, and the overall bullish trend may not have faded.

The outlook for the pullback remains firmly bullish:

Medium to long term: 111,000 / 2,720

Short term: 109,800 / 2,620, if key points are broken, continue to look upward to 112,000 / 2,700.