2025/05/29 Market Analysis

🥇01 Yesterday's Review
BTC: After a drop early yesterday morning, the price started to narrow during the day. Following a drop after the U.S. stock market opened, the price returned to around 106600, forming a rebound on the hourly level. Currently, the price is around 107800. The recent trend has been a wide fluctuation within the range of 106600-110450.
ETH: Yesterday, we mentioned that the hourly trend of Ethereum is stronger than that of Bitcoin, with a clear strong control method. Although the short-term hourly trend is influenced by Bitcoin, after a brief drop last night, it was quickly pulled back up. The reason why Bitcoin's price appears strong during the high-level fluctuations is partly due to Ethereum's momentum buildup.

🥈02 Today's Analysis
BTC Trend: The daily level is oscillating and consolidating at a high position. We have been saying that the upward momentum at the 8-hour and 6-hour levels has diminished significantly, insufficient to support the price for continued upward movement. A pullback to a larger level, such as the support of the 12-hour and daily levels, is needed before continuing to rise.
Key Support and Resistance Levels:
Resistance: 111000-115000
Support: 106000-102100
ETH Trend: The daily chart shows a small bullish candle with a short lower shadow, and the trading volume is about two-thirds of the previous day. The daily MA30 line maintains an upward trend, so the daily level is still in an upward trend. The MACD shows weakening bearish momentum above the zero line.
Yesterday we mentioned that if the daily line closes positively, it is likely to form an upward momentum. Today, there is a high probability of a breakout to the upside, resulting in a daily candlestick with a relatively long body, heading towards the 2800-2900 range. It is important to note that after a surge, there may be a rapid short-term price pullback.
Key points:
Resistance: 2800-2880
Support: 2610-2560

🥉03 Today's Summary
The weekly level still needs to continue to rise, but attention should be paid to the short-term pullback trend. The price has already broken through the historical high, and it remains to be seen whether the market can form a consistent direction and continue to break upwards. #加密市场反弹