5.6 Market Analysis: Bitcoin Forms a Downward Continuation, Adjustment Not Yet in Place

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5 hours ago

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BTC: From the daily chart perspective, Bitcoin has already broken below the support area of the EMA 5-day moving average at 94,500. In the short term, 93,500 is a double bottom support structure. Although the price is currently undergoing a correction, as long as it does not effectively break below this support, it is still inclined towards consolidation. The short-term resistance is around 95,500.

ETH: From the daily chart perspective, it is still in a downtrend. Any upward movement can only be seen as a rebound, with no trend reversal. The strong support area is between 1,700 and 1,730, while the resistance area is around 1,870.

For more explanations, please patiently watch the video. If you have any questions, you can follow the public account: Ding Junxian.

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