5.30 Midday Market Thoughts

$BTC I already clearly emphasized to everyone yesterday that the upward movement last night was not a trend reversal, only a technical corrective rebound, and I even provided the rebound levels. The highest point of the rebound will only be around 74,500. Now the result is clear: the rebound strength is weak, and the trend is still dominated by bears. My suggestion is that if it rebounds again above 74,000, you must go short. In the short term, you can watch 72,500, and for long-term traders, go directly for around 70,000.

Looking at the 4-hour chart, the Bollinger Bands are opening downward overall, with the upper band continuously declining. The bearish trend framework is clear, and the market is in a phase of range-bound oscillation after a decline. The previous rebound touched a high of 74,293, and after approaching the predicted resistance at 74,500, it was directly pressured and fell back. The rebound failed to stay above the middle Bollinger Band, which is a typical technical correction during a downtrend, not a sign of reversal.

On the 1-hour chart, the Bollinger Bands are narrowing and flattening, indicating the market is entering a short-term sideways consolidation. The bulls and bears are temporarily stalemated, but the upper band at 74,001 forms a strong resistance. Sideways oscillation is a buildup process, most likely a pause before the bears make a second downward move. Breaking through the resistance upward will be difficult.

In terms of trading strategy, the main approach remains to go short at high points. It is not recommended to chase long positions.

Saturday midday Bitcoin trading advice: short near 73,800-74,300, targeting 72,500; Ethereum trading advice: short near 2010-2020, targeting 1970.