May 29, Friday Bitcoin Morning Outlook, Bottom Stabilization, Dip Buying on Retracement

Yesterday, the bears once again crushed the market, hitting a recent low, directly squeezing the bulls to the point of breathlessness, until a rebound after finding support at 725. Overnight, there was slight resistance at 740, and last night, a short-term tug-of-war ensued. We successfully controlled the rhythm, ending with a full harvest.

Currently, the overall trend is somewhat weak, but there are no signs of further continuation. The four-hour Bitcoin chart shows a series of consecutive bearish candles, confirming a bearish trend, with prices continuously moving around the lower band. The only noteworthy point is that after the KDJ indicator's three lines entered the oversold zone, they are now turning upward. Therefore, despite the weak rhythm, excessive shorting should be avoided, and an intraday rebound is expected.

In the morning, consider buying in batches within the 733-728 range, aiming for a rise to 750-770.