Maqianpao Chen Ping'an Market Point Sharing BTC.ETH 5.31

Good evening, brothers. The big pancake has opened for a pullback as expected. I reminded brothers to hedge and go long two days ago, not sure if anyone took that advice. Currently, the market has not stopped falling, so it’s best not to enter long positions yet. Let's first observe the rebound situation near the support around 100,000! The short position at 105,500 from yesterday can be gradually reduced to take profits in this market!

Back to the market, currently, the big pancake has support at 103,000 on the four-hour chart and has not broken down, but this level cannot serve as a short-term bottom. The long position for a rebound should first look around 100,000. The resistance levels above are 104,500 - 105,500 - 106,800. The support levels below are 102,000 - 100,500. $BTC

As for Ethereum,

I initially thought this demon coin could rise to the 2,850 - 3,000 level, but due to selling pressure, it was smashed down at a maximum of 2,788. The support at the 2,480 level on the four-hour chart is still relatively strong, but it cannot be considered a bottom. Watch the positions below 2,435 - 2,380 - 2,335 for a potential rebound. The resistance above is at 2,550 - 2,620 - 2,665$ETH

For intraday operations,

Those who haven’t entered the short positions should pay attention to the levels below

100,500 and 2,350 to take small losses and gamble on a rebound long position.

Remember not to go in with large positions; currently, the overall market trend is bearish. I won’t enter large positions until it’s below 80,000!

Be patient and wait for the right position to make your move!