Crypto Circle Academician: On 5.29, Bitcoin’s Daily Structure Breaks Down—A New Round of Trend Reversal Window Has Opened! Latest Market Analysis and Trading Suggestions

Bitcoin’s current price is 73,500. In the past few days, something very interesting happened. Although the trend for Bitcoin clearly looks like it’s heading south, many crypto friends can’t help but buy the dip, convinced that it must be close to the bottom. The result, time and again, is getting slapped in the face—again and again—followed by them coming to me for help. The crypto world is never short of opportunities; what’s lacking is patience and discipline. Don’t always chase quick money while ignoring risk. Remember, futures trading is a marathon, not a sprint. I, Old Chen, urge everyone to understand that market upswings and downswings are normal. There’s no need to get stuck in internal turmoil over short-term gains or losses. Control your actions, don’t blindly follow, and strictly execute your plan—far more important than frequent trading. I hope everyone can steady their mindset amid the fluctuations: don’t get狂 during rallies, don’t panic during drops, and slowly get richer.

The daily K-line is testing a key support. The price has broken below the upward trendline that started from 59,800, and the close failed to hold above the Fibonacci 8.6% retracement 74,011. This is a clear signal of weakness. The EMA moving average system is arranged in a bearish order. The price has broken below all short- and mid-term moving averages, such as EMA15 and EMA30, indicating that the bearish trend is still continuing. The MACD indicator DIF is running below DEA, while the green histogram keeps expanding—bearish momentum has not yet exhausted. The Bollinger Bands’ middle band at 77,954 turns downward; the price breaks below the lower band support. It’s short-term oversold, but the rebound lacks strength. Overall, the trend leans toward a sideways-to-downward move.

The four-hour K-line is near the lower boundary of the descending channel. The lowest has touched 72,556, and it is currently struggling around 73,500. The entire EMA moving average system has turned downward, and the price is trading below all moving averages, forming a typical bearish alignment. The first resistance is around 74,600, where EMA15 and EMA30 are located; the second resistance is around 76,600, where EMA60 is located. The MACD indicator DIF and DEA both move downward, and the green histogram continues expanding, showing sufficient bearish momentum. The lower Bollinger Band at 72,521 was briefly broken and then slightly recovered. There is demand for a short-term oversold rebound, but the overhead suppression from the descending trendline is obvious, limiting the rebound height. Overall, it remains in a weak downward rhythm.

Short-term strategy reference: Follow the trend of the big cycle, keep stop-loss small, and enter/exit quickly.

Go north from 72,500 to 72,000; stop-loss at 71,500; targets at 74,500 to 75,000.

Go south from 74,500 to 75,000; stop-loss at 75,500; targets at 72,500 to 72,000.

Actual trading should mainly rely on real-time order book data. For more information, you can refer to the author’s updates. The article may be published with a delay, so it is suggested for reference only. Risk is your own responsibility $BTC ‌#股票交易挑战最高赢17000U