5.28 Bitcoin's high-level consolidation is nearing its end, and wild fluctuations are about to unfold.
BTC is currently experiencing a continued downward trend, with minor support levels at 106000 and 104000. The periodic fluctuations are about to conclude, so pay attention to directional choices and maintain a primary focus on short positions, waiting for signals and opportunities. ETH has minor resistance at 2700, with short-term support levels at 2500 and 2300.
Bitcoin is now at a critical decision phase for bulls and bears, with the 108000 support level being a key battleground. The current price is testing this critical support, and the concentration of chips in this area is at 4.3%, indicating a fierce battle between bulls and bears. Combined with candlestick patterns, the latest hourly cycle shows a bullish engulfing pattern, and with KDJ entering the oversold zone, it suggests a high probability of a short-term rebound. However, the EMA24/52 moving averages still present a bearish arrangement, and the trading volume has shrunk by 37% over the last 10 cycles, indicating limited upward momentum. If the price falls below 108000, it will certainly further explore lower levels.
Trading suggestions:
Short Bitcoin at 109000-109500, targeting around 106000-103000. Stop loss at 110000.
Short Ethereum at 2690-2730, targeting around 2500-2300. Stop loss at 2780.
