Yueying: Bitcoin and Ethereum Market Analysis (May 24th): Is it a good time to buy the dip after the continuous decline? Weekend Brief Review

Bitcoin's daily chart shows a bullish candlestick pattern, with the previous day's price action breaking below the lower Bollinger Band and the 60-day moving average before rebounding. Intraday trading saw continued testing of the 7-day moving average area. The Bollinger Bands are widening downwards, short-term moving averages are trending downwards, the MACD fast and slow lines are extending downwards and have fallen below the zero line with decreasing volume, the KDJ is crossing upwards, but watch for resistance around the 50 level, and the VR indicator is consolidating around 110. On the 4-hour chart, after a false break below 75000, the price rallied with consecutive bullish candlesticks, breaking through the middle Bollinger Band before entering a consolidation phase. Currently, it's trading above the middle Bollinger Band, the Bollinger Bands are narrowing and parallel, short-term moving averages are trending upwards, the MACD fast and slow lines are crossing upwards with increasing red volume, the KDJ is extending upwards, but watch for resistance around the 100 level, and the VR indicator is consolidating around 150. Overall, the market continued to decline over the weekend due to news, and is currently testing resistance around the 7-day moving average. While there has been some rebound, the market is weak, and a reversal is unlikely unless the resistance above is broken and stabilized. Short-term resistance is around 78000; a break above this level could lead to further upward testing. Support is around 75000. For short-term trading, consider a long position in Bitcoin at 75700 (take profits as needed). Ethereum's 4-hour chart shows consecutive positive candles, currently consolidating narrowly above the middle band. The overall trend should be correlated with Bitcoin. Short-term resistance is around 2200, and support is around 2000. For short-term trading, consider a long position in Ethereum at 2060 (click the image to see the homepage introduction for more cryptocurrency analysis). —I am Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading or trends, feel free to discuss and learn with me! Let's exchange ideas and profit together!