Market Analysis Outlook for May 30
In the past 24 hours, the overall crypto market has shown a volatile trend. Bitcoin (BTC) is currently trading at around $106,788, down about 1.53% from yesterday, with a 24-hour fluctuation range of $105,700 - $107,300. After hitting a record high of $112,000 on May 22, it is still about 5% away from that high, and is currently in a sensitive consolidation phase before option expiration.
From the technical indicators, the RSI indicator on the 4-hour chart is at 54, which is in the neutral zone; the MACD indicator column is shrinking but still remains above the zero axis, indicating that the short-term momentum is weakening but still remains positive. The Bollinger Bands began to expand again after closing, and the current price is running near the middle track, with the upper track at $108,500 and the lower track at $104,800, indicating that the market may be ready for a new round of volatility.
