May 29th Market Analysis: BTC $74,000 Bull vs Bear Showdown! Is the rebound for real? Can Ethereum's structure repair continue?
BTC: The $74,000 support line has been breached. It plummeted from $74,239 to $73,464 in the early hours, and later hit a low of $72,709 due to market news, currently oscillating weakly below $74,000. The key question: Where is the real support below?
ETH: Also breaking down, falling below the psychological $2,000 mark. In the early hours, it dropped from $2,014 to $1,971, currently testing around $2,000 repeatedly, with $1,950 support to watch below.
Next, we're starting a new setup. Looking at the monthly chart, Bitcoin has already touched the MA5 moving average, and the daily MA120 is also around this area. This price could spike down further. However, any spikes down are expected to be retracted, so maintain a low long strategy; if it spikes down, just go long, only going long.
BTC's lower limit around $71,500 is already this week's extreme; definitely don't flip to short at this level again.
Current price is near $73,000. You can go long directly, don't be afraid, let's hold together.
Trading Suggestions:
BTC $72,800-$73,300 go long, target $74,800 - $76,000, stop at $72,300.
ETH $1,960-$2,000 go long, target $2,150 - $2,250, stop at $1,920.
The views, conclusions, and suggestions in this article are for reference only and do not constitute investment advice. The market carries risks; invest cautiously.
$BTC
$ETH
BTC: The $74,000 support line has been breached. It plummeted from $74,239 to $73,464 in the early hours, and later hit a low of $72,709 due to market news, currently oscillating weakly below $74,000. The key question: Where is the real support below?
ETH: Also breaking down, falling below the psychological $2,000 mark. In the early hours, it dropped from $2,014 to $1,971, currently testing around $2,000 repeatedly, with $1,950 support to watch below.
Next, we're starting a new setup. Looking at the monthly chart, Bitcoin has already touched the MA5 moving average, and the daily MA120 is also around this area. This price could spike down further. However, any spikes down are expected to be retracted, so maintain a low long strategy; if it spikes down, just go long, only going long.
BTC's lower limit around $71,500 is already this week's extreme; definitely don't flip to short at this level again.
Current price is near $73,000. You can go long directly, don't be afraid, let's hold together.
Trading Suggestions:
BTC $72,800-$73,300 go long, target $74,800 - $76,000, stop at $72,300.
ETH $1,960-$2,000 go long, target $2,150 - $2,250, stop at $1,920.
The views, conclusions, and suggestions in this article are for reference only and do not constitute investment advice. The market carries risks; invest cautiously.
$BTC
$ETH