Yueying: Bitcoin and Ethereum Market Analysis for May 28th - Will a Break Below 75,000 Lead to a Major Drop? Beware of Extreme Weakness and a Reversal

Bitcoin's daily chart shows a consecutive bearish candlestick pattern, breaking below the 60-day moving average. Intraday opening saw accelerated declines, testing the lower Bollinger Band support. The Bollinger Bands are widening downwards, short-term moving averages are trending downwards, the MACD fast and slow lines are moving downwards with increasing volume, and the KDJ indicator is crossing downwards and extending downwards; watch for support near the 0 level. The VR indicator is consolidating around 110. On the 4-hour chart, the price has fallen for five consecutive bearish candlesticks, breaking below the lower Bollinger Band. After a false break below 73000, the price action has deviated from the indicators and is currently showing some rebound. The Bollinger Bands are widening, short-term moving averages are trending downwards, the MACD fast and slow lines are extending downwards with continued increasing volume, the KDJ indicator found support at 0 and turned upwards, and the VR indicator is consolidating around 60. Overall, the price has fallen for five consecutive bearish candlesticks, breaking below the 60-day moving average and the key support level of 75000. The weekly chart shows signs of another downward test, with the next key support level shifting to the 70000-69000 area. In the short term, consider entering positions around 71800, with resistance around 75000, a potential top/bottom reversal level. For Bitcoin, the short-term suggestion is to buy at 72800 and sell at 74250 (take profits as needed). Ethereum has weakened and broken below 2000. The 4-hour chart shows a slight rebound after deviating from the indicators. While the market is currently weak, excessive shorting is not advisable. The overall technical analysis should be referenced in conjunction with Bitcoin. Short-term resistance is around 2100, and support is around 1930. For Ethereum, the short-term suggestion is to sell at 2078 and buy at 1960 (click the image to see the homepage introduction for more cryptocurrency analysis). —I am Zhou Yueying, a teacher specializing in technical analysis. Feel free to discuss and learn with me about any trading or trend-related questions! Let's exchange ideas and profit together!