🥯Market Insights for May 28.🥯
$BTC Insights:
The cryptocurrency and financial markets will eventually be ruined by Trump, and it will be a complete disaster.
If Bitcoin breaks above the volume at 108825, enter a long position on the right side, with stop-loss below the breakout.
If it drops below 108318 with volume and fails to recover, enter a short position on the right side, with stop-loss once it recovers. Pay attention to volume changes and set proper stop-losses.
If it falsely breaks down at 107928, take a small long position. If the false breakdown's low or below 107209, set a stop-loss; if it doesn't recover, do not go long.
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If Bitcoin can hold above 109181, it can look up to 109847-110380; otherwise, it won't mean much.
For those who like to short Bitcoin at high positions, watch for a 2B false breakout at 109880 and take a small short position; stop-loss above 110447.
For conservative traders, wait for: long at 106678, with stop-loss below 106000.
See the chart: If Bitcoin is going to form an M-top, it must break below 107948 on the hourly level to take shape; otherwise, it is useless.
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Upper resistance: 109347-109880-110413
Lower support: 108514-107515-106782
On the 4-hour level, if it breaks below 107927, look down to 106740-105865.
Continuing to analyze the chart: Bitcoin's hourly level is showing a large triangle convergence pattern. Last night, it made four upward spikes but couldn't hold above the trend line.
Now it has fallen back into the triangle pattern; if Bitcoin breaks below the lower boundary of this triangle convergence, it will go down.
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$ETH Thoughts:
For Ethereum, if it breaks above 2644 with volume, enter a long position on the right side, with stop-loss upon recovery.
If it drops below 2621 with volume, enter a short position, setting a proper stop-loss.
If it retraces to 2586, confirm the support is valid and take a small long position; stop-loss below 2551.
For Ethereum at the hourly level, if it breaks and holds above 2650, look for targets at 2679-2707; if it can't hold, Ethereum won't go up either.
Watch for a short position at 2683 above; stop-loss above 2707.
Left-side orders: long at 2542, with stop-loss below 2500.
In the early morning, Ethereum challenged 2700 twice upward but couldn't hold. This shows that the turnover rate at 2700 is very high, making it difficult to stabilize there.
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Upper resistance: 2653-2694-2706
Lower support: 2625-2600-2579
On the 4-hour level, if it breaks below 2600 and cannot recover in time, look down to 2558-2504. In the coming days, both Bitcoin and Ethereum will likely have frequent spikes; set proper stop-losses, and disperse the meeting.