Cryptocurrency Market Analysis: 5.31 Bitcoin Sacrifice Rising Channel, Bears Permeate the Market! Is Ethereum's Downward Volatility a Trap? Latest Market Analysis
Cryptocurrency Market Analysis: 5.31 Latest Bitcoin Market Analysis
Article Published on 2025.5.31 ---- 0:10
Current Bitcoin Price is 105,500; the market has indeed turned bearish as predicted, and the change in the bullish trend is quite evident. Currently, the market is experiencing a downward trend, which I believe everyone can see. The price has broken below the lower boundary of the rising channel, and the short-term moving average MA7 is below the long-term moving average MA30, further confirming the current market weakness. The MACD indicator shows that bearish momentum has not completely ended, and the sluggish trading volume also indicates low market participation. Therefore, it is advised to pay attention to the performance of low-level support. The technical pattern of the dark cloud cover has appeared after the rising trend, forming at the top of the movement, suggesting a possible trend reversal.
Today's Reference Points:
Long Entry Point 103,000, Stop Loss 102,500, Stop Loss 500 points, Target 107,500
Short Entry Point 107,500, Stop Loss 108,000, Stop Loss 500 points, Target 105,000
Latest Ethereum Market Analysis
Before publishing, the current price of Ethereum is 2,600. The market is overall showing a downward trend. In the short term, it may further test the support level around 2,300, while 2,790 remains an important resistance level. With the MACD bearish signals and increased trading volume fluctuations, the short-term trend is primarily weak. Therefore, it is advised to take a wait-and-see approach. Aggressive traders may consider shorting at high positions with light positions, but timely stop-loss should be set above the resistance level of 2,790. Conservative traders may wait for the price to pull back to the significant support level of 2,300 before observing whether the volume-price coordination forms a stabilization signal, and then consider entering long positions. Meanwhile, closely monitor whether the MACD further amplifies the green bars and whether the death cross continues to confirm the strength of bearish forces.
Short-Term Strategy Reference:
Long Entry Point 2,500, Stop Loss 2,450, Stop Loss 30 points, Target 2,650
Short Entry Point 2,750, Stop Loss 2,800, Stop Loss 30 points, Target 2,600
The above is a brief analysis of the current market situation by Cryptocurrency Market Analysis for investors' reference $BTC
