5.31 Midday Analysis:

Signal of stagnation at high levels has sounded, and the opportunity for a pullback has emerged
The market shows obvious resistance at high levels, with prices repeatedly testing the upper band of the Bollinger Bands and failing to break through, forming continuous upper shadow candlesticks, indicating that bullish momentum is continuously weakening. The Bollinger Bands' upward channel is narrowing, and the indicators show signs of divergence at the top, with the short-term moving average support losing its effectiveness.
In the context of insufficient incremental funds, the high-level stagnation is very likely to trigger profit-taking and position closing, and the market may enter a correction phase at any time. The current trading strategy is mainly bearish at high levels, with a focus on the potential for further decline if support levels are broken.

Midday reference:
Bitcoin short entry zone: 74,500-75,000
Target zone: 72,500-73,000
Ethereum short entry zone: 2,050-2,045
Target zone: 2,010-2,015 #币圈#