Weekly Summary & Analysis of Bitcoin and Ethereum Market Trends on 5.31 Sunday Afternoon and Trading Recommendations

A week of ups and downs, a path of recovery, perseverance is key. Reviewing the overall market this week, the decline confirms a major bearish trend, and the rebound at the end of the week is merely a technical correction within the downtrend, not changing the overall downward structure. Bulls have consistently been unable to organize an effective counterattack. Early in the week, Bitcoin hovered above 78,000, forming a top, then began a continuous decline, with the lowest point reaching 72,436 on Friday night, also marking the low for May. The largest drop of the week was about 5,500 points. Ethereum moved in sync, facing resistance above 2,140, then falling back to a low of 1,965. It also failed to break through the key resistance zone, with the overall trend dominated by bears. Over the weekend, an oversold rebound was triggered by technical signals, but it failed to break through key resistance levels, maintaining a bearish dominance overall.
Zhilan Shipan has been closely following the bearish main line throughout the week, flexibly responding to shifts between bulls and bears. Although there were a few small losses during the process, the overall rhythm remained steady. Bitcoin gained a total of 16,459 points in space, and Ethereum gained 513 points. Congratulations to friends who followed along and steadily took profits.

After a week of intense battles, the market has entered a phase of low-volume consolidation with narrow fluctuations. The rebound over the weekend shows clear signs of stagnation, unable to stabilize above resistance zones. The major bearish trend remains unchanged. On the daily chart, Bollinger Bands are opening downward, with the middle band continuously pressing down. Several doji and small-bodied candles with upper and lower shadows have appeared. The strong resistance zone is at the Bollinger middle band around 76,500-77,000, which is difficult to break in the short term; the key support is near the lower band. Once broken, the downside could extend to around 70,000.
On the 1-hour chart, Bollinger Bands are tightening, currently near the middle band, with candles alternating between small bullish and bearish signals. Rebounds to 74,000-74,500 are clearly facing resistance, with multiple attempts failing. Ethereum moves in sync, with Bollinger Bands opening downward on the daily chart, the middle band at 2,120 continuing to press down. The strong resistance is between 2,100-2,130, and support is fragile. Once broken, it could drop to around 1,900.
Considering the multiple rebounds and pullbacks this week, effective resistance above, and the overall trend still leaning bearish, the probability of a downward reversal is slightly higher.
BTC: Target below 72,500, if broken, then 72,000
ETH: Target below 1,950, if broken, then 1,900
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