Coin Circle Li Ying: On May 27, Bitcoin returned to 110,000, but bullish momentum sharply decreased? Ethereum lost in the dark forest! Latest market analysis
Current price of Bitcoin is 110,000, indeed the support at 106,500 is effective, and Bitcoin has rebounded back to the 110,000 level. Looking at the current situation, the main force is still fluctuating near the upper track of the rising channel, the bullish trend remains unchanged, but the upward momentum is weakening. In the short term, Li Ying judges that the fluctuation pattern may continue. Since the MACD has just issued a golden cross signal and trading volume is shrinking, market momentum is insufficient, and the short term may focus mainly on fluctuating consolidation. Therefore, Li Ying suggests that coin friends can consider buying on dips in the short term, while mid-term holders should continue to hold positions and wait for the price to effectively break through the previous high before adding positions. Risk control must be done well; from a technical perspective, a bullish engulfing pattern has appeared at the recent low, indicating a possible short-term rebound; combined with the three white soldiers pattern, confirming that there was strong upward momentum previously, the strategy should primarily follow the trend with a secondary focus on shorting.
Today's reference points:
Long entry at 107,000, stop loss at 106,500, stop loss 500 points, target 109,000
Short entry at 111,500, stop loss at 112,500, stop loss 500 points, target 110,000
Ethereum
Before publishing, the current price of Ethereum is 2,560. Li Ying mentioned that the main strategy is to buy on dips. Now that the market has risen, it is no use regretting having missed the opportunity; currently, the market is consolidating at a high level. Overall, it shows an upward fluctuating trend. In the short term, the main force is likely to maintain a sideways fluctuation, and the upward trend may continue. Therefore, Li Ying suggests that coin friends can consider selling high and buying low. After breaking through the previous high resistance level of 2,740 and confirming stability, they can add long positions accordingly. Conversely, if the price falls below the key support of 2,500, it is necessary to consider timely stop loss and wait for clear trend signals. From a technical perspective, the appearance of the three white soldiers pattern indicates that there is upward momentum in the recent market. The top and bottom formations reflect the tug of war between bulls and bears, and the larger trend is bullish. Therefore, Li Ying is more inclined towards bullishness, but in a consolidating market, one can also trade within a range, operating flexibly based on the market conditions.
Short-term strategy reference:
Long entry at 2,450, stop loss at 2,400, stop loss 30 points, target 2,650
Short entry at 2,650, stop loss at 2,700, stop loss 30 points, target 2,500
The above is a brief analysis by Li Ying regarding the current market conditions for investors' reference $BTC
