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🩸Market insights for May 26th afternoon.🩸
$BTC 's insight:
Bitcoin hit a high of 77887, just shy of 200 bucks away from the 78100 resistance; that 200 bucks might just be the last straw for Bitcoin. Given that we hit a pressure point and couldn't break through, a pullback is to be expected. The pullback has breached the 77287 support, turning it from support to current resistance. We're currently testing this yellow bullish trendline; as long as we don’t drop below this yellow bullish trendline, it can be considered a normal pullback. If we break below this line, the hour-level M pattern will be confirmed, with the neckline at 76000. Falling below 76000 would establish the M pattern, breaking the bullish consolidation zone marked in red, leading to further testing of the 74702-74203 support range. Only when we drop below this support range can we start to see an expanded decline. If we don’t break the trendline, there’s still hope—maintaining a consolidation above the trendline gives us a chance to push higher, but for any upward rebound, we must break the 77287 resistance to aim for higher levels. Essentially, Bitcoin has been consolidating between 77887-76000; as long as we don’t break this range, we keep oscillating. Breaking this range would signal a one-sided market move.
If Bitcoin breaks 76878 with volume, consider going long on the right side to catch a rebound, while a volume drop below 76110 means going short on the right side; remember to set proper stop losses.
For the hourly level, if we hold above 76878, we can look to 77888-78560; if we can't surpass 76878, it’s useless.
On the 4-hour level, a drop below 76092 targets 75367-74200.
Upper resistance: 76878-77888-78560
Lower support: 76114-75269-74121
$ETH 's thoughts:
For altcoin, if it breaks 2099 with volume, consider going long on the right side, setting a stop loss upon recovery.
If it drops below 2077 with volume, go short on the right side; again, set a proper stop loss.
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