Analyst Chen Shu: Don't rush to go long after the pullback on 5.29, midnight market analysis/with trading strategy

Market Analysis: Currently, from the trend perspective, Bitcoin has broken below the daily MA5/10 moving average line of 10.85, showing a short-term downtrend correction. On the 1-hour chart, it has quickly dropped below the support of the MA256 daily moving average. The next support level to watch is the MA120 daily moving average at 10.58 on the 4-hour chart; Ethereum has once again tested the MA256 daily moving average resistance level of 2660 without success. The support below focuses on the MA5/10 daily moving average support at 2580, with initial support in the range of 2550-2530, paying attention to the short-term pullback strength.

Trading Strategy (Published at: 00:20):

BTC: Short at 10.75, add to short on a rebound at 10.85, target 10.6/10.55; go long below 10.6/10.5 looking for a rebound of around 2000 points.

ETH: Short at 2640, add to short on a rebound at 2670, target 2600/2560; go long below 2560/2530 looking for above 2600.

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