May 29 Morning Bitcoin Market Analysis

The price fluctuated frequently during yesterday evening's U.S. stock market open, touching the previous low during a pullback but not breaking below 72,500 on the downside. Subsequently, it showed a rebound trend and maintained the rebound early this morning, rising to a high of 73,932, which is also close to the resistance level of 74,000 we mentioned yesterday. The rebound of the ETH was stronger than expected, rising from around 1965 to about 2030. Friends in the live broadcast room, presumably those who took profits have already done so. Hesitating when it's time to exit, lucky when stopping out at the right moment, but ultimately the deepest wounds are often inflicted. Rationally exiting is better than stubbornly holding out emotionally.

From the 4-hour chart of Bitcoin, the overall rebound strength is relatively weak, including the 74,000 resistance I mentioned yesterday, which shows no signs of being broken. The Bollinger Bands are still opening downward, indicating a continued downward trend. The rebound candlesticks are small, reflecting insufficient buying volume and heavy selling pressure above. Although the current momentum of the pullback is weakening, it has not been fully released yet, and the KDJ golden cross is diverging upward, indicating a technical correction phase. The structure of the pullback is still present, with a short-term bias toward a pullback, expecting a retest around 73,200. Intraday, the rebound correction continues to look upward toward the 74,000-74,500 resistance zone, with ETH potentially targeting 2030-2050. $BTC