Coin Circle Li Ying: Is there a dark cloud over Bitcoin on May 29? Are Ethereum bulls about to vanish into thin air? Latest market analysis
Coin Circle Li Ying: Latest market analysis for Bitcoin on May 29
Article published on 2025.5.29----0:10
Current Bitcoin price: 107,300. Li Ying has noticed that there is currently a pullback pressure in the market, the MACD indicator shows that bearish momentum is strengthening, and both MA7 and MA30 moving averages are showing a downward trend. The bearish trend is quite obvious in the short term, so Li Ying suggests that friends in the currency space operate cautiously in the short term. If the price further breaks below the channel support, consider lightly shorting; if the price rebounds, observe whether it can return above the middle track of the channel before making a bullish layout. Pay attention to position control and try to wait for the trend to become clearer before taking action. The technical side shows a 'dark cloud cover' pattern, and there may be consolidation or a decline in the near future. It is necessary to pay attention to whether it can hold the key support level. The overall trend is beginning to change, and friends looking to go long should manage their risks well.
Today's reference points:
Long entry at 106,500, stop loss at 105,500, stop loss 500 points, target 109,000
Short entry at 110,000, stop loss at 111,000, stop loss 500 points, target 107,000
Latest Ethereum market analysis
As of the time of writing, the current price of Ethereum is 2,630. The target given in yesterday's article reached 2,700 but did not reach 2,550. Currently, it is hindered by the key support level of 2,620, and the upward momentum in the market has significantly weakened. In the short term, Li Ying predicts that the main force will be in a state of consolidation. The upper resistance level is at 2,740, and the lower support level is around 2,350. If the key resistance is not broken, there is a risk of a pullback in the short term. Therefore, Li Ying suggests focusing on high selling and low buying, waiting for the subsequent trend to clarify before making swing trades. If the price effectively breaks through 2,740 in the short term, one can consider lightly following the trend; conversely, if it breaks below the 2,350 support level, one should decisively stop loss. The technical side shows a 'dark cloud cover' pattern, bearish momentum is weakening, and there is a risk of a pullback in the short term.
Short-term strategy reference:
Long entry at 2,550, stop loss at 2,500, stop loss 30 points, target 2,650
Short entry at 2,700, stop loss at 2,730, stop loss 30 points, target 2,550
The above is a brief analysis by Li Ying regarding the current market situation, for investors' reference $BTC