There was a big fluctuation on Sunday, with the price breaking through the previous high of 27,500 and the neckline of 27,700, indicating that the price formed a double bottom structure. Since a bottom structure has been formed, it is not overly bearish for the time being. However, short-term risks still need to be paid attention to. The rise on the first Sunday caused A futures gap of 26900-27900 is formed, and covering is highly likely, but there is also a gap of 29100-29800 above, so it is currently uncertain which one will be filled first, but the gap below will definitely be filled, and secondly, the chip-intensive area below is around 26800 , so if the price just reaches the chip-intensive area to form demand after covering, then the price is currently at the upper edge of the channel, which is a channel suppression, but whether it can break through still needs to be observed to see whether a relay structure will be formed in the future, such as a triangle, a flag If a relay structure such as a shape is formed and adjusted in volume, there is a high probability that it will continue to test upwards in the future. The current market choice to rise indicates that the overall level is expanding.
Resistance level【28600, 29100, 29368】
Support level [27300, 26800, 26600]
The trend of Ethereum is more obvious, and it has broken through the falling wedge as a whole. It has been judged before that the wedge structure has a 90% probability of breaking through. It has also broken through the 1880 neckline and also formed a double bottom structure. Although it broke through the wedge structure, because the previous high of the 12-hour level is In 2020, it is a short trend before a breakthrough, but it is a long trend at the 4-hour level, so the price will follow the linkage of Bitcoin to pull back to near the chip-intensive area below, especially the 1827-1840 range.
Resistance level [1936, 1970, 1990]
Support level [1843, 1822, 1815]
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 29, 2023
The above analysis is for reference only and does not constitute investment advice.
