I. Current Price and Intraday Performance (May 29)

• Price: Around 73,600 USDT

• 24 Hours: -1.1%, high of 74,589, low of 72,582

• Status: Broke below 75,000 → 74,000 → 73,000, weak oscillation

• Sentiment: Fear and Greed Index at 22, extreme fear

II. Key Levels (Short-term)

• Resistance: 74,500 / 76,000 (strong resistance)

• Support: 72,700 / 71,200; breaking below targets the 70,000 level

III. Technical Analysis

• Moving Averages: Price below 20/50-day moving averages, bearish alignment

• Volume: Low trading volume, increased volatility, sharp declines likely

• Structure: Weekly high-level retreat, bullish trend temporarily paused

IV. Main Reasons for the Decline

1. Prolonged struggle at 78,000–80,000, institutional funds shifting out

2. Continuous net outflows from spot ETFs, leveraged longs being liquidated

3. High US Treasury yields, overall pressure on risk assets

4. Market panic, intensified selling due to fear

V. Short-term Trading Strategy (May 29)

• Mainly bearish: Resistance around 74,500, can short if pressured, target 72,700 → 71,200

• Stabilize and go long: If stable in the 71,200–72,000 range, can lightly try long positions with stop-loss at 70,500

• Risk control: Light positions, with stop-loss, avoid high leverage; avoid chasing trades in current high volatility

VI. Mid-term Outlook

• If 70,000 is broken, further decline to 65,000–68,000 possible

• If support at 71,200–72,700 holds, rebound toward 76,000–78,000 is likely

• Overall in a high-level correction phase, mid-term trend depends on whether 70,000 can hold #24h加密合约清算破4亿美元