2024.05.31 Friday

Trend Enters Oscillation Again, How to Determine the Bull and Bear Market in the Future?

① 20:30 US Core PCE Price Index YoY for April

② 20:30 US Personal Spending MoM for April

1. Daily Chart: After testing the 60,000 support level, the price has maintained oscillation above it. If the subsequent pullback does not break this level, the upward trend will continue.

2. 1-hour Chart: After a short-term breakthrough above the 66,000 level, there has been a slight pullback. If the subsequent pullback does not break this support, there will still be an upward trend.

II. Ethereum

1. Daily Chart: After oscillating and testing the 3,100 level, the price has risen again. If the subsequent pullback does not break this key level, the upward trend will continue.

2. 1-hour Chart: After a short-term breakthrough above the 3,600 level, there has been an adjustment. If the subsequent pullback does not break this support, there will still be an upward trend.

I. Bitcoin

1. Yesterday's Viewpoint:

Summary: After a short-term breakthrough above the 66,000 level, there has been a slight pullback. If the subsequent pullback does not break this support, the upward trend will continue. Resistance above is at 70,700 and 73,440; if it breaks below, a pullback trend will start, with support at 63,400 and 60,600.

2. Future Trend:

The future trend has not broken the 66,000 level and has maintained narrow oscillation, reaching a high of 69,568.

II. Ethereum

1. Yesterday's Viewpoint:

Summary: After a short-term breakthrough above the 3,600 level, there has been an adjustment. If the subsequent pullback does not break this support, the upward trend will continue. Resistance above is at 3,950 and 4,110; if it breaks below, a pullback trend will start, with support at 3,460 and 3,310.

2. Future Trend:

The future trend has rebounded after not breaking the 3,600 level, reaching a high of 3,828.

I. Bitcoin

Summary: After a short-term breakthrough above the 66,000 level, there has been a slight pullback. If the subsequent pullback does not break this support, the upward trend will continue. Resistance above is at 70,700 and 73,440; if it breaks below, a pullback trend will start, with support at 63,400 and 60,600.

II. Ethereum

Summary: After a short-term breakthrough above the 3,600 level, there has been an adjustment. If the subsequent pullback does not break this support, the upward trend will continue. Resistance above is at 3,950 and 4,110; if it breaks below, a pullback trend will start, with support at 3,460 and 3,310.

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