Today's Square Order:

BTC: Short at 105200-105500, move stop loss to 105700, target 104100, 103000;

ETH: Short at 2540, target 2470-2400, stop loss 20-30 points

Is it large capital selling at high positions or pushing people off the bus?

From a technical perspective: As I mentioned yesterday, although the market is currently quite panicked, with various indicators and price spikes making people feel that the market is about to crash, please maintain your calm judgment when placing trades. Looking at the long term, I remain cautiously optimistic; as expected, last night, with the U.S. stock market opening high, our ETH2350 long position basically took profit at 2570 for the second time;

Currently, the MACD on the 4-hour chart is still above water, but it is in a weak bullish trend. In the short term, it may continue to fluctuate without a significant breakout of the current range; from the candlestick chart, BTC is currently within a parallel channel, suitable for making swings with high shorts and low longs within this channel; I predict that the turning point may be next week;

From a funding perspective: On May 19, the net inflow of Bitcoin spot ETF was $667 million, and the net inflow of ETH spot ETF was $13.66 million; buoyed by increased holdings from Metaplanet and Strategy, Bitcoin rose to $107,000 over the weekend. Although there was some profit-taking selling on Monday, the spot ETF still saw continuous inflows, and institutional buying remained steady, so you can also see a quick rebound in the evening session. The current price level is near historical highs, a very sensitive area, with a large amount of capital betting on new highs for Bitcoin. Therefore, even though there was strong supply yesterday, there is still a large amount of demand absorbing that supply.

From a news perspective: Pay attention to the April core PCE price index year-on-year and the May Consumer Confidence Index on May 30 next week;