5.24 Market Analysis:
Last night the market suddenly collapsed, with Bitcoin first dropping to around 107250 barely holding on, rebounding to 109760 before being slammed down again, and this morning it plummeted directly to a new low of 106721. This trend is clearly weak; the short-selling strategy I previously mentioned has already brought in profits.
Now looking at the daily chart, it has completely changed its tone; what was previously a strong rally is now a fierce drop. The two days of bullish candlesticks have been completely engulfed, and the market is entirely under the control of bears. The four-hour chart looks even worse, with consecutive large bearish candlesticks directly breaking the upward trend line, and volume indicates that the bear camp still has plenty of ammunition. My judgment is that this wave of decline has not yet reached its target; the morning rebound is just a money-making opportunity.
Specifically, if Bitcoin rebounds to the range of 108000-108500, it can be shorted directly, first targeting the 106000 level, and if it gets aggressive, it might drop to 105000. For Ethereum, short at the pressure zone of 2550-2580 with eyes closed, and keep an eye on the lower target of the 2450-2430 area. At this pace, anyone daring to catch the bottom is just catching a flying knife.
The market continues to change, and we are closely monitoring it to seize new entry opportunities. Like + comment, let's navigate the bull market together and seize the big opportunities in this round.
