Crypto Circle Academician: The May 24 Bitcoin Downtrend Is Already Set! Are Any Rebounds Just Opportunities to Exit? Latest Market Analysis and Trading Suggestions

Bitcoin is currently trading at 75,800. What’s happening these past few days? The warning about heading south carefully and not rushing north has been repeated for several days. It really confirms that saying: beginners die chasing highs, veterans die bottom-fishing, and experts die by using leverage. That’s absolutely true. The usual routine is: after the sharp drop, wait for the selling pressure to ease; after it eases, wait for a pullback; after the pullback, wait for confirmation; then enter the market. Before that, a pullback is a chance to head south. Otherwise, every rebound is a trap.

On the daily (day K) chart, the EMA30 and EMA60 moving averages forming above the price create a dual layer of pressure. Overall, the market is still in a weak recovery phase after the earlier downtrend. The MACD indicator shows that DIF continues to run below DEA. Although the green histogram bars show signs of shrinking, they have not formed a clear golden cross signal yet, and the southward trend has not reversed. The Bollinger Bands are currently tightening. The price is trading close to the lower band. Support around 75,184 is relatively strong. If this level breaks, it will most likely pull back toward the support area near the prior low. In the short term, there is no clear reversal signal; the market remains mainly weak and range-bound.

The four-hour (4H) chart is currently showing a clear downtrend. EMA15 and EMA30 form a southward alignment. On multiple rebounds, the price has been repeatedly suppressed by EMA15 and has not been able to break through effectively. The MACD indicator continues to weaken below the zero axis, and the green histogram bars continue to expand, indicating sufficient bearish momentum in the short term. The Bollinger Bands are opening downward. After the price breaks below the middle band, it continues to move along the lower band. The current price is near the lower band. There may be a small short-term rebound, but the rebound height is limited. The strong resistance level is around 76,800.

Short-term trading idea (reference): follow the trend of the larger timeframe; use a small stop-loss and enter/exit quickly.

Heading south from 76,800 to 77,100: stop-loss 77,500; targets 75,500 to 74,500.

Heading north from 74,600 to 74,100: stop-loss 73,800; targets 76,000 to 76,500.

Only trade the market you can understand. If you can’t understand it, stay in cash. Don’t make random moves. Don’t let the market get to you—first, get your mindset and discipline back in order.

Specific trading actions should be based mainly on the live order book data. For more details, you can consult the author. Since the article is published with a delay, this is for reference only. Risk is yours to bear: #TradFi交易分享挑战 #TradFi交易分享挑战 $BTC