May 29 Afternoon Bitcoin Market Analysis

In the morning, the main Bitcoin momentum continued to release, as expected, giving a pullback near 73,200, precisely predicting a short-term correction with a cautious approach, not overly aggressive. Then, it rebounded with small positive moves, reaching around 73,900, still not breaking through 74,000. The altcoin market was relatively stable in the morning, with continuous bullish rebounds alongside Bitcoin. When the market is at its quietest, it is often the safest. Conversely, when the market is most lively, it is often the most dangerous. Being able to stay in the market during quiet times and remain alert during lively times means you have already won against most people.

Currently, Bitcoin continues to show signs of rebound and correction, and the momentum mentioned earlier is about to be exhausted. On the 1-hour chart, the MACD shows a bullish crossover below zero, indicating that the overall rebound strength is still insufficient, but the bullish momentum is steadily strengthening. In the short term, focus on the 74,000 resistance level; if it cannot break through, it is likely to consolidate below this level, preparing for a subsequent decline. The altcoin market is relatively stronger than yesterday; after the rebound and correction in the early morning, it has maintained above the 2,000 level. Keep an eye on the resistance zone above, and look for short-term trading opportunities during the upcoming fluctuations. #WTI原油失守90美元 $BTC $ETH