5.29 Bitcoin Ethereum Intraday Market Analysis ~ Bitcoin starts to fluctuate and pull back, pay attention to the support at the 106000 level.

CN
孟晓瀚
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2 days ago

In the early hours of the 28th, we predicted a high-level fluctuation for Bitcoin, and with strong selling pressure above 110,000, the high-level layout also achieved a good profit margin.

After today's daily update, the price is running below the MA5 10-day moving average, and the MACD and KDJ indicators are leaning towards a resonant pullback sentiment. However, the MA30-day moving average and the middle track of the BOLL band maintain an upward sentiment, indicating strong support below. Looking at the 12-hour chart, the current price is slightly moving downwards relying on the MA30-day moving average, and the indicators show that the price is being suppressed by the MA5 10-day moving average, which also leads to a lack of momentum for the current Bitcoin rise.

On the 4-hour chart, Bitcoin is currently running near the lower track of the BOLL band, and the MA5 10-day moving average is pressing down on the price. The current market trend is leaning towards a fluctuating downward trend. The high point resistance for Bitcoin is referenced at the 108,500-110,000 range, and the low point support is referenced at the 106,000 range. Therefore, my personal view for the day is to first go high and then low, which seems more prudent.

Trading strategy: Long at 108,300-109,000, target: 107,000-106,000, stop loss: 109,500.
Low point: 106,500-107,000, target: 108,000-109,000.

Ethereum is currently showing an overall trend diverging from Bitcoin. After a spike upwards today, the overall trend is leaning towards a slight upward fluctuation, so my short-term view remains to go low.
Trading strategy: Long at 2,690-2,650, target: 2,750-2,780, stop loss: 2,630.
For the short-term trend, this is expected to be sufficient, and I will continue to follow up later.
This personal view is for reference only. There may be delays in article review and push notifications, and the market changes rapidly. Specific entry and exit points should be based on real-time guidance. Please be cautious when entering the market. Analysis is not easy, and I welcome everyone to like and follow the public account for surprises!

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