Zhou Yanling: 5.31 Dragon Boat Festival Bitcoin and Ethereum Latest Trend Prediction Analysis and Trading Strategy
This wave of decline hasn't yet reached the position in my heart. Everyone likes to ask a certain question: where does Bitcoin need to drop to in order to be considered unrecoverable? Does the price need to break below a certain point to indicate a trend reversal? I can understand such questions, but they are a false proposition; there is no accurate explanation, only hypothetical answers. Can such hypotheticals serve as the basis for your trading? It is said that once 101000 is breached, the price will enter a state close to reversal, and it can be directly determined that 111980 is the peak. However, not everyone is trading short-term these days; there are still many trades betting on direction. At that time, the price hadn't yet opened a gap of over 5000 points, so those traders were looking to see it reach a peak. Otherwise, why stick to a bearish position? In fact, I also believe the price won't move out so quickly. After all, in the days leading up to last Thursday's U.S. market, the market was in a fluctuating, Tai Chi-like state. This is fine; regardless of whether this pullback is due to selling or something else, as long as it can complete our planned approach, then after breaking below 101000, 93000 will be the next target to track. Therefore, the most important thing right now is to pay attention to the strength of the ultimate support at 101000.
Looking closely at the technical indicators, the daily level has shown a continuous decline for several days, forming a clear bearish trend. The hourly level is experiencing a consolidation phase, with short-term lows gradually rising, but overall still within a descending channel. The hourly DIF and DEA are both operating below the zero axis, and the histogram has turned from green to red, indicating that bearish strength has weakened but has not yet reversed. The hourly RSI value is 39.1, close to the oversold range, indicating some demand for a rebound; the daily RSI continues to decline, maintaining a weak state. The hourly EMA7 (103,757) and EMA30 (104,693) have formed a death cross, and the price is constrained by the EMA7. The daily EMA120 (106,740) is far from the current price, and the trend remains bearish.
Zhou Yanling's 5.31 Bitcoin Trading Strategy:
Short at 105000-104300, stop loss above 106000, target 102800-102000, continue to look for a decline near 101400.
Long at 101500-102300, stop loss below 100500, target 103300-104000.
Zhou Yanling's 5.31 Ethereum Trading Strategy:
Short at 2600-2560, stop loss above 2650, target 2450-2410, continue to look for a decline near 2320.
Long at 2400-2435, stop loss below 2350, target 2480-2520.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
The content of this article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years and currently mainly analyzes and guides BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. For more real-time community guidance, consultation on unblocking positions, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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