May 29 Bitcoin Consolidation Analysis



On the macro level, the current market risk appetite continues to weaken, safe-haven funds are temporarily retreating, combined with weak economic data expectations suppressing asset upside potential, and the overall fundamentals lack strong bullish drivers, with a clear bearish overall tone.

1-hour level price rebound is weak, pressured below the middle band of Bollinger Bands and the MA20 moving average, with medium- to long-term moving averages maintaining a downward suppression, and bullish momentum exhausted. After the K-line rebound, consecutive declines indicate heavy selling pressure above, and the short-term oscillation center continues to move downward.

Macro bearish news and technical bearish patterns resonate, the market lacks sustained upward momentum, and the price rebound is more of a technical correction, likely continuing the downward trend afterward. Trading should focus on shorting on rebounds facing resistance.

Trading suggestion: 2030-2060 range, target 1950-1880. $HYPE
HYPE5.43%
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