5.29 Evening Market Analysis

Today's cryptocurrency market shows significant fluctuations, with Bitcoin and Ethereum each exhibiting distinct trends.

Regarding Bitcoin, the daytime market was volatile, initially rising from around 107400 to about 108400, then retreating to around 107000, and subsequently climbing again to about 108600. The current price is around 108400. From a daily perspective, Bitcoin shows a bearish divergence with increasing volume, forming a bullish candlestick. Close attention should be paid to the support level around 106400. The 4-hour K-line indicates that while the bearish volume of Bitcoin has increased, it is supported by the lower trend line, and bulls are attempting to push higher, though facing pressure at the middle trend line. There is a resistance level near 109000 above; if it can break through and stabilize, subsequent attention should be directed to the resistance around 110000 - 111000. The 1-hour chart shows that Bitcoin's bullish volume is increasing, but it is facing some pressure.

As for Ethereum, it rose from around 2670 during the day to about 2788 before retreating to around 2700, currently oscillating in the range of 2715 - 2735.

Based on the current market situation, evening trading suggestions are provided. If Bitcoin retraces to around 107800 - 107500, consider going long, targeting around 109500 - 110000. If Ethereum retraces to around 2700 - 2680, consider going long, targeting around 2760 - 2780. However, the cryptocurrency market is ever-changing, and investors must exercise risk control. Once a profit is made during range fluctuations, it is advisable to secure it promptly to avoid losses due to sudden market changes. #Bitcoin