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Gujingci: 5.23 Bitcoin/Ethereum drops sharply again, do bulls still have a chance?
After multiple long-side setups in Bitcoin/Ethereum earlier, I couldn't resist a pullback to 75,000 to 75,300 and 2,050 to 2,060 to enter long positions in the early session, but the market dropped again. Auntie is helpless with her nephew, and Bitcoin is dangerously close to the 74,000 stop-loss level. Currently, the market is falling rapidly, so there's no need to chase shorts. Friends who haven't exited short positions should add to their positions around 2,020 and 74,400, waiting for a rally. The current market movement is more driven by emotional selling, so continue to go long and wait for a rebound.
Trading suggestion: For those with long positions at low levels, continue to hold patiently and add around 74,400 and 2,020, with an average price near 74,800 and 2,040. Alternatively, buy long at the current price of 74,400 and 2,020, with short-term targets around 76,000 and 2,090, and for the nephew, 73,500 and 1,980 levels.
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