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Thursday, May 28 Bitcoin and Ethereum Market Analysis and Trading Suggestions
Looking back from early morning until now, the market has continued yesterday's weakness, further declining, with Bitcoin and Ethereum both hitting new lows. Bitcoin's lowest touch was around 74,210, and Ethereum also weakened simultaneously, dropping to about 2,013. The continuous decline has completely retraced the previous upward gains, and the bearish momentum has been fully released. Currently, the price has returned to the key support zone of 74,200, showing signs of stabilizing in the short term. The clear bearish outlook was given early this morning, and decisive short positions were taken, perfectly capturing this downward move:
Bitcoin short at 75,289 → exited at 74,600, gaining 689 points
Ethereum short at 2,056 → exited at 2,029, gaining 27 points
After continuous decline, the market has entered a severely oversold area, and a short-term rebound is imminent. The focus is on key support and resistance levels to catch a rebound. On the four-hour chart, the Bollinger Bands are opening downward, with several candles running near the lower band, indicating severe overselling. The 74,000–73,500 zone below is a strong support level, unlikely to be broken immediately, likely resulting in a consolidation correction. On the hourly chart, after breaking below the lower band, the price has slightly rebounded and moved away from the middle band, indicating a need to return. Ethereum is also aligned, with strong support between 2,015 and 2,010. Holding this area could trigger a rebound at any time. Overall, after the recent continuous decline, the probability of a short-term oversold rebound has increased. The support at low levels is strong, the downward momentum is slowing, and traders should focus on signs of stabilization at low support levels to seize oversold rebound opportunities.
BTC: Consider long positions around 74,200, targeting near 76,000
ETH: Consider long positions around 2,010, targeting near 2,100
#股票交易挑战最高赢17000U $BTC $ETH