Analysis of Bitcoin Market on May 31
Since there is nothing to analyze in the triangle wash phase after Bitcoin pulls up, Caishen has not paid much attention to Bitcoin recently. Let's talk about the next trend of Bitcoin.
Recently, the washing range of Bitcoin is between 1000 points and 2000 points. For spot users, there is no change in the wash, just a callback. For contract users, the price remains unchanged, and the position disappears. Contract users are double-exploded.
1. From the daily level, Bitcoin has gone out of the descending triangle interval adjustment and is about to go out of the new trend. It is not recommended to buy and sell spot now. Just hold it in your hand. Investors should stabilize their aggressive emotions and wait for Bitcoin. If it breaks out of the adjustment range, you can increase your position, because it doesn't matter how much money you make, as long as you make it in your hand. If Bitcoin falls below the triangle adjustment range, we should boldly reduce our position.
2. From the perspective of MA 20, the daily level plays a good supporting role. And the natural interval adjustment makes MA 20 perfectly connected with the K line upward.
3. EMA has not gone out of the dead cross, and the general trend is still bullish.
4. MACD forms a dead cross above the zero track, so if the K line breaks through the triangle interval, then MACD will form a golden cross again and will continue to rise.
5. Market sentiment has not yet reached a climax, and retail investors are still afraid. The funding rate is still at a normal level, so Caishen believes that his next direction will be further pulled up, so that retail investors' sentiment can be driven to a climax and more funds can be invested, so that more retail investors can be pushed to the top of the mountain.
Therefore, spot investors should continue to hold their positions. If you want to increase your position, you can increase your position when the triangle interval is broken. If a positive line breaks through and increases in volume, you can boldly increase your position.
At present, the meme market is gradually cooling down. From the news side, the application for s-1 has also begun. Therefore, in terms of liquidity, it is likely to flow back to the ETH system again. Therefore, I think the odds of chips turning to the Ethereum system are relatively high.
From the market situation, we can see that the main rotation is now sector rotation. I think the Ethereum sector was caught by the big brother Bitcoin after just one wave of rise. So I think if Bitcoin goes up, then the Ethereum sector will have a wave of rise caused by market sentiment.
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