May 30 Bitcoin Market Analysis

On Friday, Bitcoin saw selling pressure around the 74,000 area despite an attempted rebound, but the idea of following the trend and taking action still remains sound. After the US stock market opened in the evening, the price slipped lower following the trend, breaking below the previous low. However, the US side also sent short-term bullish signals. At the same time, the long-accumulated volume had been building up and was released all at once, allowing the rebound to break through 74,000. But the rally was not able to continue afterward; it faced resistance around 74,300 and pulled back to below 74,000. Our position also adjusts at any time based on fluctuations in the order book. We did not place an order during the day at first; instead, we waited for the pullback to align with the trend. After the positive news appeared, we decisively entered again and captured the move.

At present, on the 4-hour timeframe, the candlestick structure is in a horizontal consolidation phase after an upswing with a slight pullback. The bullish factors released last night also unleashed a significant portion of the volume that had been accumulated in advance. Currently, although the KDJ has already signaled a technical rebound and repair is needed, the MACD is still forming and sustaining an underwater golden cross while continuing to rise, indicating that bullish momentum is still being released. In the short term, the bulls are in an advantage position, but the upside space is limited. Moreover, US-Iran negotiations are “going back and forth,” and the situation in the Strait of Hormuz remains uncertain, so the market has entered a standstill and is in a wait-and-see mode. For Bitcoin, it needs to rebound and decisively break above the 74,000–74,500 range to affect the current bullish structure. Downside support is first seen at 73,000, and at this stage there is still no sign of an effective breakdown. For Ethereum, focus on the 2,000–2,030 range for consolidation and oscillation. #WTI原油失守90美元 $BTC $ETH