5.31 Early Morning Thoughts

Today's market trend has been fluctuating. From the morning to the noon session, the price of Bitcoin remained in a volatile pattern, with both bulls and bears locked in a stalemate. However, as dusk approached, the market underwent a dramatic change, with Bitcoin prices plummeting in a "waterfall" style, dropping to around $103,600, showcasing a thrilling market reversal. Thanks to accurate market analysis, our strategy today has achieved stable returns: the day's strategy earned 3,229 points, and Ethereum also successfully gained 185 points. Although trading time was limited due to family commitments during the holiday, resulting in overall returns slightly below expectations, the accumulation of each point is not just a numerical increase but a successful testament to the implementation of trading strategies. The investment journey requires steady progress. In tomorrow's market, we will continue to give our all, looking forward to achieving more success!

From an intraday perspective, the current market pattern shows strong signals leaning towards bearishness. The middle band of the Bollinger Bands continues to move downward, indicating that the stalemate of sideways trading is about to be broken, and the market is at a critical juncture for directional choice. Focusing on the four-hour candlestick chart, the price of the coin is consistently under pressure below the middle band of the Bollinger Bands, with multiple attempts to rise all ending in failure, currently oscillating within a narrow range between the middle and lower bands. After the MACD indicator formed a death cross, the green bars continued to expand, showing that bearish momentum is continuously accumulating; at the same time, the 5-day and 10-day moving averages were both broken, presenting a standard bearish arrangement in the moving average system, with the Bollinger Bands' opening significantly expanding downward, and the middle band's suppression increasingly evident, making it extremely risky to bottom fish at this time; going with the trend is the wise choice. From the four-hour chart, the market's bearish dominance is clearer. The RSI indicator continues to run below 50, and even occasional rebounds struggle to reach key resistance levels, emphasizing that the bears firmly control the market rhythm. The candlesticks are closely adhering to the lower band of the Bollinger Bands and moving downward; every rebound to the middle band encounters strong resistance from the MA60 moving average, with a clear downward channel visible. It is worth noting that during the rebound phase, trading volume has significantly shrunk, whereas during the decline, the volume has notably expanded. This divergence between volume and price further confirms the current weak market pattern.

Bitcoin can be shorted in the range of 104,500-105,000, with a target near 102,000. Ethereum can be shorted in the range of 2,570-2,600, with a target near 2,500. $ETH $BTC #中心化与去中心化交易所 #交易类型入门 #币安Alpha上新 #加密市场回调