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May 29th, Friday, Zhongling Afternoon BTC/ETH Silk Dew
On the four-hour chart, the overall moving averages are arranged in a bearish pattern, with the upper and middle bands continuously trending downward. The current rebound is only a technical retracement after being oversold, with insufficient momentum. The middle band around 74,900 faces strong resistance, limiting the rebound space. In terms of operation, the main focus remains on bearishness; encountering resistance during a rebound is an opportunity to establish short positions.
Trading suggestions:
Buy within the 74,000-74,500 range, with an intraday target of 71,500!
Buy within the 2,030-2,050 range, with an intraday target of 1,910.
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