Morning Thoughts on May 30th
Currently, it is not difficult to see from the daily chart that the market has been in a weak structure recently. Since failing to stabilize above the 110,000 mark, the price has continuously hovered at low levels on the daily chart, with weak rebound momentum that lacks effective continuation. Therefore, the short-term outlook remains bearish for a bull attack.
On the 4-hour chart, there is a clear trend of linear decline. Although there was a brief rebound correction after the previous large bearish candle, the overall downward trend of the price is evident, and the consolidation at low levels has been broken. As the rebound momentum gradually weakens, bearish forces dominate.
Trading Suggestions
Bitcoin at 106,500, looking towards 105,000
Ethereum at 2,660, looking towards 2,580
