May 30 Saturday Midday Market Analysis


Bitcoin experienced a dip followed by a rebound; after finding support at the low of 73,058, the price gradually bounced back.
The 4-hour Bollinger Bands shifted from opening downward to contracting and consolidating; the price repeatedly oscillated around the middle band, indicating weakening bearish momentum.
The bulls and bears are entering a consolidation phase, mainly repairing the range in the short term.
BTC trading suggestion: Go long around 73,300, take profit at 74,000, stop loss at 72,800.
ETH trading suggestion: Go long around 2,000, take profit at 2,020, stop loss at 1,980.
Short position suggestion: Short near 74,000 for BTC, short near 2,030 for ETH.
BTC1.50%
ETH1.31%
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