5.6 Afternoon Jiangyu Heng Bitcoin Analysis



Bitcoin retraced to the 80,600 level in the early session to complete a correction, then the bulls gained momentum and stabilized above 81,000. The daily chart continues its upward trend, with the Bollinger Bands' middle and upper bands in an intact upward channel. The one-hour chart shows sideways consolidation at high levels, with selling pressure exhausted, and the overall trend remains bullish.

On the news front, the US-Iran conflict announced the "end of the offensive," and Trump paused the Strait of Hormuz "Freedom Plan," leading to a phased easing of geopolitical risks, providing short-term support for risk assets. Ethereum's correlation remains weak, still oscillating below 2,370, with attention needed on the 2,350 support level.

Trading ideas:
Bitcoin 80,500-81,000 buy low, target 82,000
Altcoin 2,350 nearby buy low, target 2,450
BTC2.01%
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Will Russia capture Riasne by May 31?
Yes 95%
No 6%
$34.02K Vol
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