🔥 5.24 Morning Market Report | Cryptocurrency Market Volatility Warning【Bitcoin and Ethereum Both Face Challenges】
In the early morning, Bitcoin first dipped to around 108,000 before rebounding to 109,760, followed by a second retest; Ethereum fell in sync but at a slightly slower pace. The current market clearly shows a pattern of downward volatility, with the 110,000 level having shifted from strong support to a resistance line, temporarily suppressing the bulls!
🔥【Key Technical Signals】
✅ Five consecutive bearish candles on the 4-hour chart: After breaking through 110,000, there was a pin bar drop, and the battle between bulls and bears is intense (the bulls are fighting back fiercely!)
✅ Breakout on the hourly chart forming a converging triangle: plummeting + step-like decline, with rebound highs continuously dropping
✅ All three tracks are downward: Short-term may maintain a range of mid-lower track oscillation, beware of downside risks
🛡️【Key Defense Levels Reminder】
Focus on the Bitcoin support zone around 107,000/106,000
Keep an eye on the Ethereum zone of 2,450-2,480
🎯【Today's Strategy】
👉 Bitcoin: Enter long positions near 108,000, target 109,500
👉 Ethereum: Light long positions near 2,530, looking up to 2,580
⚠️ All resistance levels can be used to place short orders (be sure to set stop losses!)
📌 Friendly Reminder:
Recent volatility is heavily influenced by fundamentals, and the market movements are quite unusual. It is advisable to control positions, observe more, and act less! Pay attention to the defense at 107,000 in the early session, and set stop losses in a timely manner if broken～
