2024.5.2 Morning News

Setting the tone: small rebound, mainly low-buy

Three reasons support the rebound here

1: The minutes of the Federal Reserve meeting show that the balance sheet reduction plan has been slowed down since June, increasing market liquidity.

2: The US dollar index has returned to below the 20-day moving average again. It rebounded after the first drop the day before yesterday. Now it is the second drop. In most cases, the second drop will continue. The US dollar index retreated downward to 104.9, which reduced the pressure on the rebound of the crypto market.

3: Auntie stepped back to the lowest point near the daily half-year line yesterday, and closed the hammer line, structural support.

Note: This is just a rebound, which cannot change the callback trend of the monthly line. When the US dollar steps back to around 104.9, the cryptocurrency market will be under pressure again.

Auntie pays attention to the following during the day: 3035 to 3055 range support; 2893 is the life and death line of the bulls today.