May 24 Morning Analysis

BTC one-hour chart shows an oversold correction and main force support pattern, with a rapid decline to a low of 74,211 earlier, completing a deep correction and then rebounding, with the price returning above the middle band of the Bollinger Bands at 75,517.

The Bollinger Bands indicator currently shows a converging pattern, with the lower band continuing to decline and the middle band stabilizing and rising, indicating that the bearish momentum is weakening, and the short-term bulls are gradually taking control. The bulls and bears are entering a oscillating correction phase. A large buy order of nearly $63 million appears on the other side of the market, with strong willingness from the main force to support at low levels, forming a strong support for the price, and the short-term downside risk is significantly hedged.

The first key resistance is locked at the upper Bollinger Band at 77,042. A volume breakout above this level will continue the rebound; otherwise, resistance will cause a pullback, with the middle band at around 75,500 becoming the dividing line between bulls and bears.

Trading suggestion: 77,200-77,700, target 75,200-75,700. $ETH $ETH #PlatinumCard作者专属