With the arrival of the weekend, the price of Bitcoin is hovering around 26800. There is still no strong supply. The main reason is because of the weekend. However, it fell back briefly and fell below the short-term upward trend line. At present, it is still not optimistic about the price. Breaking through the previous high, as long as the mid-line price does not exceed 27,500, there is still the possibility of further decline, and the possibility is very high, so you need to be cautious when going long.

Resistance level【26900, 27160, 27500】

Support level [26300, 25800, 25200]

Ethereum also had a short retracement yesterday. The supply is not particularly large, but it is very close to the downward trend line. The midline needs to be focused on 1880. At present, the probability of a breakthrough is not high, so it is more inclined to fall back after a short test. If the price is going to rise, then The subsequent fall cannot make a new low, but form a convergence shock and an upward breakthrough. Otherwise, there is still the possibility of further decline without breaking through 1880. However, it is still necessary to note that there is currently no top structure and the price does not have a strong supply near 1840. If the price continues to test upward, you need to pay attention to 1853. This range is the area of ​​high density of chips before, so pay attention to short-term short squeeze.

Resistance level【1840, 1853, 1880】

Support level [1808, 1738, 1700]

The market is changing rapidly. If you make a profit, move the stop loss to the opening price in time. The point can only be used once. Do not open the same point again after being stopped. Do not place orders at high times. You must bring a stop loss. Stop the loss twice and close the position gradually. Open a position and gradually reduce the position. If others are greedy, I will be fearful. If others are fearful, I will be greedy. It is not recommended for novices to do futures contracts.

May 28, 2023

The above analysis is for reference only and does not constitute investment advice.