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Good morning everyone, as May is about to end, let's do a brief review of this month's market trend.
From the monthly chart perspective, the market's upward movement has already ended and is gradually oscillating downward, once again entering a sideways consolidation similar to the previous three months.
What we need to focus on is the monthly closing situation—whether it closes as a bearish (downward) candle or a bullish (upward) candle.
Meanwhile, on the weekly chart, it’s clear that the market is showing signs of forming an inverted V-shape pattern.
Therefore, we need to watch whether the market can hold around 70,000 in the coming days, because if it breaks below 70,000, the inverted V can be considered formed, and there could be another wave of accelerated decline.
As for where the market bottom might be, further attention should be paid to institutional and U.S.-Iran related news.
Previously, from early April to early May, the daily trend was upward, but now it’s obvious that the short-term trend is downward, and the daily chart is also forming an inverted V-shape.
Thus, more focus is needed on risk management and where support might form below the market.
If a standard inverted V is formed, the support level would be around 65,000.
In this regard, my personal suggestion is that in the short term, until the market can break out of the downward price trend channel, contract strategies should favor short positions recently.
As for major tokens like ETH and SOL, the weekly chart has already formed a perfect inverted V-shape, and the monthly chart is still in the lower part of the monthly consolidation range.
If the market drops further, it could easily accelerate market panic and lead to a sharper decline.
Therefore, risk awareness should be heightened.
Today, for BTC, pay attention to the support around 71,000 in the short term;
for ETH, support is around 1,930;
for SOL, support is around 78.5.
Today's contract strategies:
BTC: Short at 74,000 or higher, take profit at 71,500.
ETH: Short at 2,030 or higher, take profit at 1,950.
SOL: Short at 83 or higher, take profit at 79.
Warm tips:
1. Stop-loss suggestions should be set based on your actual liquidation price and your risk tolerance.
2. Do not be greedy; securing profits is the priority. It’s better to take small losses than to hold onto losing positions.
If the direction is correct, continue holding.
$BTC $ETH $SOL