Analyst Chen Shu: Prices further decline on 5.31, midnight market analysis / with trading strategy

Market Analysis: Currently, based on the trend, Bitcoin's daily chart has consecutively closed in the green and has again dropped to the 10.4 level. In the short term, it is about to test the daily MA30 moving average at the 10.35 level. Pay attention to the effectiveness of this support level, and it is expected to break below the 10.35 level. The 4-hour chart has completely fallen below the MA120 moving average; Ethereum shows a daily drop below the MA5/10 moving averages, establishing a downward correction trend in the short term. The 4-hour chart is currently below the MA120 moving average at the 2560 level, and attention should be paid to whether this level is completely lost.

Trading Strategy (Time of publication: 01:00):

BTC: Buy at 10.35, add to position on a pullback to 10.26, target 10.45/10.55; short at 10.5/10.6 with a target of 10.35 level.

ETH: Buy at 2460, add to position on a pullback to 2400, target 2500/2560; short at 2580/2650 with a target of 2500 level.

The daily analysis strategy has an extremely high win rate! Analysis is not easy, and I hope everyone can give a free follow, favorite, like, and comment. Thank you all, and feel free to leave comments below. I will reply one by one!