Zhou Yanling: 5.26 News Brings Multiple Positive Factors for Bitcoin, There is Still Significant Upside Potential in the Cryptocurrency Market
From the news perspective, the previously waning concerns over tariffs have resurfaced as Trump indicated that new tariffs will be imposed on additional countries in the future, and suggested a 50% tariff on the EU starting June 1, while complaining about the stagnation of trade negotiations. Additionally, the escalating situation in the Middle East has made geopolitical risk aversion difficult to dissipate, which will also serve as a long-term support factor for cryptocurrency prices. Trump's announcement of new tariffs on additional countries and the EU has reignited economic concerns in the market. The U.S. debt-to-GDP ratio exceeds 124%, and the expansion of debt undermines the dollar's credibility, impacting the confidence of dollar bulls. Despite the Federal Reserve's hawkish stance, it remains challenging to boost the dollar; technically, the dollar index may continue to decline, which is favorable for cryptocurrency prices. The expectation of a rate cut by the European Central Bank in June has weakened, and a strong euro may suppress the dollar and boost cryptocurrency prices. In summary, Yanling believes that under the influences of geopolitics, debt, tariffs, and other factors, the weakening of the dollar and inflation expectations are all favorable for the cryptocurrency market. A high-tax environment may also encourage parties to increase their holdings of cryptocurrencies to hedge against risks. Moreover, from a technical perspective, there are still numerous moving averages providing support below, and the bullish outlook has not been completely lost. As mentioned in Yanling's article over the weekend, after this short-term pullback adjustment, the long-term trend remains bullish.
Next, let's take a look at the analysis of the technical indicators on the chart. Recent hourly candlesticks show that the cryptocurrency price is fluctuating around 109,000, forming a small oscillation range. On the daily level, the price has rebounded from 106,600 to 109,363, showing a strong upward trend. The MACD on the hourly timeframe is in the positive zone but shows signs of a pullback, while the daily MACD remains in a bullish state. The hourly RSI is approaching the overbought zone, which may lead to a short-term pullback; the daily RSI remains at a neutral to high position. Both the hourly EMA7 and EMA30 are tilted upwards, supporting the current price trend. The daily EMA also supports the upward trend. In conclusion, Yanling's view remains that the market should continue to take long positions.
Zhou Yanling's 5.26 Bitcoin Trading Strategy:
Buy at 107,700-108,600, stop loss below 106,500, target 109,500-110,500, continue to look for upward movement towards 111,400.
Sell at 111,400-110,500, stop loss above 112,500, target 109,500-108,700.
Zhou Yanling's 5.26 Ethereum Trading Strategy:
Buy at 2,460-2,500, stop loss below 2,400, target 2,590-2,630.
Sell at 2,640-2,600, stop loss above 2,690, target 2,550-2,510.
[The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.]
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, currently focusing on analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contract/spot operations. For more real-time community guidance, consultation on position recovery, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
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