Pionex: Bitcoin Latest Market Analysis on May 23

Article Published on 2025.5.23 ---- 0:10

The current price of Bitcoin is 111,300. This time breaking the historical high has little to do with most people. Looking at the market, yesterday Pionex entered at 106,000, which can be considered the last entry point for this wave. Bitcoin has remained high above 110,000, and the strong upward trend is dominated by bullish news. K-line analysis shows that the market is in a bullish arrangement, but there have been some reversal signals and top formations, such as hammer lines, bottom formations, top formations, and doji stars. This reminds us to be cautious of potential upward resistance in the market, so Pionex advises maintaining caution. If you are in profit, you might consider taking profits to lock in gains. Additional positions can be considered only after the price confirms a breakthrough above the previous high, and if a pullback occurs, pay attention to the support at 93,000, which may be a good entry point.

Today's Reference Points:

• Long Entry Point: 105,500, Stop Loss: 104,500, Target: 109,000
• Short Entry Point: 112,000, Stop Loss: 112,500, Target: 108,000

Ethereum Latest Market Analysis

Before publication, the current price of Ethereum is 2,670. Pionex has found that the larger trend remains bullish, but a short-term top formation suggests there may be a risk of a pullback in the short term, so Pionex advises a cautious bullish outlook. It is advisable to maintain a wait-and-see attitude until a strong resistance level at 2,738 is broken. If the price falls below the support level of 2,640, it may be necessary to consider reducing positions or adopting a short strategy. If the price effectively breaks through the current resistance, it may be appropriate to consider increasing long positions moderately. The K-line showed a clear upward trend in early May, and the doji star and bottom formation may indicate a rebound opportunity, while the top formation suggests a risk of pullback.

Short-term Strategy Reference:

• Long Entry Point: 2,550, Stop Loss: 2,500, Target: 2,650
• Short Entry Point: 2,730, Stop Loss: 2,760, Target: 2,500

The above is a brief analysis by Pionex regarding the current market situation for investors' reference. Over the past ten years, Pionex has continuously explored and experienced hundreds of different digital assets. Throughout this process, Pionex has witnessed the brilliance of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons along the way. As a female trader striving in this challenging field, Pionex feels a responsibility to share her insights and hopes to help others with dreams find their place in this unpredictable market and embark on their own successful journey.

The content of this article is time-sensitive and for reference only; risks are borne by the reader.

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