[Market view on the evening of May 28]

It is already the end of May before we know it, and it is time to close the monthly line. As expected, it is a series of positive days. Bitcoin broke through the 70,000 pressure in the early morning but failed to stand firm. Today, there is a short-term negative trend again. BTC in the Mentougou incident began to transfer multiple times. The market panic increased slightly, and Bitcoin also responded to it and came to the support of 67,000. There is no need to worry too much about this news at present. It is brought up every year. In the afternoon, Mentougou also refuted the rumor and smashed the market. The transfer was just to prepare for the creditor deadline on October 31, so it is better to start paying attention to this matter in early October. The market once joked that these creditors should thank Mentougou, otherwise they would not be able to hold on! Passively getting rich, this also tells us that high-quality currencies should have long-term thinking, not stop when they see good results. The next narrative Ethereum is greater than BTC, so we should pay more attention to Ethereum and its ecology. In the next few weeks, the market is still expected to hype.

From a technical perspective, the weekly line of Bitcoin retreated to the 60,000 mark this month. After several weeks of shocks and bottoming out, the bulls successfully exerted their strength last week, and Bitcoin once again stood above the 70,000 mark. The daily line saw a decline after the previous K closed with an upper shadow, and the Bollinger Bands began to shrink. The important boundary below is the middle track and the 60-day moving average. In the 4-hour chart, after rushing to 70,000 yesterday, the real negative line retreated back to the lower track area, testing the 0 axis area with a large volume column. At present, the overall 67,000 is an effective support, and it will continue to rise slowly.

Bitcoin 4h support: 67350 Pressure: 69200
Yita 4h support: 3776 Pressure: 3936

Hot news during the day:
🪅ENS Labs proposes to migrate services to Layer2 network
🪅Arkham: Mt. Gox cold wallet address starting with 1JbezD has transferred all bitcoins
🪅Uniswap Foundation: Uniswap v4 will be launched later this year
🪅Trump: If elected president, will seriously consider pardoning Julian Assange

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