May 28 Evening Market Outlook

$BTC During the morning to midday period, influenced by the ongoing escalation of Middle Eastern geopolitical tensions, the market once again declined and retreated, consistent with our previous predictions. Currently, there are no signs of easing in regional conflicts, market sentiment remains under pressure, and the overall market is relatively weak. A cautious approach remains to short on rebounds, which is also reflected in recent market behavior—rebounce momentum is clearly insufficient, and multiple attempts to test key resistance levels have failed to break through effectively. In the afternoon, the market slightly rebounded from the low of 72,667 but with limited strength, and prices continued to be pressured below 73,600, oscillating sideways. Tonight, there may be a technical correction rebound, initially targeting around 74,000. However, it is still not advisable to chase this rebound, as the main trend of the bears dominating after the rebound will continue. $ETH

On the 1-hour chart, after a series of large downward candles that quickly pushed prices lower, the price reached a low point and entered a phase of sideways consolidation. The Bollinger Bands are opening downward overall, and prices remain under pressure below the middle band. Short-term rebound momentum is clearly lacking, mostly representing a weak correction after a decline. The 4-hour larger trend is clearly downward, with the moving averages continuously diverging downward, forming strong resistance. The bearish rhythm has not ended; the current sideways movement is just a pause during the decline, with no signs of a trend reversal. If subsequent rebounds cannot effectively break through the key resistance at 74,000, the overall market will continue to trend downward.

Thursday night Bitcoin trading advice: Short near 73,500-74,000, target 72,000; Ethereum trading advice: Short near 1,990-2,000, target 1,940.