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5.24 Sunday Afternoon Market Analysis
BTC opened with upper and lower shadow candles and a bullish body in the morning, with bulls and bears fighting back and forth
The US and Iran reached a phased ceasefire agreement, and Iran opened the Strait of Hormuz; once the news came out, BTC quickly rebounded without giving any chance to get on board
I've been saying these days that the market will complete a multiple top correction, with the final point around 74,800 forming a rebound, and perhaps everyone will ask, this rebound is entirely driven by news, with no relation to technical structure and market analysis
First, we must admit that the rebound is driven by news, but the market also showed signs of bottoming out and rebounding; as long as ETH 2000 remains intact, we are following precise strategies in the group, with the evening rebound space value responding exactly at 2070-2080 sideways; overnight news pushed the price up to 2149, and our group precisely set the take-profit target at 2140, which can be repeatedly verified. I have learned to firmly HODL, and everyone must understand the recent news
The previous M-top correction also formed a rebound high at 74,800, and this multiple top correction will also bottom out and rebound at the 74,800 support level
If the market stabilizes above 77,000, this rebound will continue the bullish structure toward around 81,000, with likely oscillations back and forth to absorb funds
BTC trading suggestion: buy long at 76,000-76,500, take profit at 78,000-81,000, stop loss at 75,500
ETH trading suggestion: buy long around 2,115, add positions at 2,080 and 2,050, take profit at 2,140-2,200