May 31st Evening Market Analysis:
Brothers, good evening! I'm really sorry for being late! Today is the Dragon Boat Festival, and I've been super busy, running around all day for the dragon boat races. My arms feel like they're not even mine anymore. After finally finishing that delicious dragon boat rice and taking a refreshing shower, I'm starting to feel better. Hey, in the spirit of this wonderful Dragon Boat Festival, I sincerely wish all my brothers health and happiness, may your days go as smoothly as possible, even better than my dragon boat racing!
In the market, the reputation of "Black Friday" is truly not just a bluff. Last night I reminded everyone, and the evening article also highlighted the key points at the top and bottom of the consolidation area. Who would have thought that shortly after the article was released, the market would suddenly plummet, breaking through the consolidation zone. From a daily chart perspective, such pullbacks are a normal phenomenon in market operations, and drops of thousands or even tens of thousands of points are not uncommon in the waves of the financial market, so there is no need for excessive worry; this is all within normal fluctuation ranges.
Take Bitcoin for example, the previous surge reached 50%, and now it has only retraced by 8 points, yet some brothers are starting to feel fearful. It’s like a long-distance runner; after running such a long distance, they must stop to rest. Looking back at the past trends, the daily chart's wave patterns have gone through several rounds. In the ever-changing market, no one can predict when a sharp drop like a "headless waterfall" will occur. This is also why I have always advised against blindly chasing highs during significant market uptrends. For instance, during a certain period in 2023, Bitcoin's price surged sharply in the short term, leading many brothers to enter the market at high prices, only to face a deep market correction and suffer heavy losses. Therefore, it is crucial for everyone to remain rational and calm.
Bitcoin Resistance Levels
104800, 106400, 107800
Bitcoin Support Levels
103000, 102000, 101200
Ethereum Resistance Levels
2540, 2580, 2620
Ethereum Support Levels
2475, 2450, 2415
Solana Resistance Levels
159, 164, 169
Solana Support Levels
152, 149, 145