Analyst Liang Qiu: 5.30 Bitcoin/Ethereum Continues to Retrace, Is the Market Stabilizing?

Bitcoin/Ethereum continued to build short positions yesterday, with Bitcoin/Ethereum entering positions above 108000 and 2730 respectively. The market fell throughout the morning, dropping to around 104500 and 2556, with an overall significant decline. After the morning drop, there was some rebound, which was relatively strong; however, the upper side remained under pressure. The daily chart for Bitcoin has shown a continuous downtrend, breaking below the middle line of the Bollinger Bands, with the MA indicators breaking below the 7-day and 10-day moving averages at the 108000 level, leading to a top-bottom conversion pressure. Ethereum has also continued to show a divergence pattern in recent days, with support to watch at the 2550 level.

The candlestick pattern for Bitcoin/Ethereum on the daily chart indicates a recent continuous price decline, forming a clear bearish trend. Two consecutive large bearish candles accompanied by long upper shadows indicate heavy selling pressure above. In the 4-hour timeframe, the current candlestick shows a state of consolidation, but it remains within a downward channel. In terms of technical indicators on the 4-hour timeframe, DIF and DEA are consistently below the zero axis, and although the histogram has slightly decreased after expanding, it indicates that bearish strength has weakened but has not yet reversed, waiting for the market to rebound before declining again.

Trading Suggestions BTC: Around 106300 to 106800, target near 104000; ETH: Around 2640 to 2660, target near 2580.

【The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication do not guarantee timeliness; specifics are subject to real-time conditions】 #加密市场回调