Chu Yuechen: Bitcoin (ETH) Market Analysis and Trading Reference for May 26th

Chu Yuechen: May 26th Bitcoin (ETH) Market Analysis and Trading Reference Technical Analysis: The downtrend structure has not reversed. Risk remains on the daily chart. The only structure that could reverse the weakness is a head and shoulders bottom formation above $76,400 on the 4-hour chart; otherwise, a second dip to around $74,000 is highly probable. In yesterday's article, we recommended short positions above $77,000 and also mentioned adding to short positions near $78,000. As of today, the price action has largely followed our plan. Last night, we also gave those without positions a short position at the current price of $77,500, and the price is currently fluctuating around $76,500. Those who entered short positions have seen good profits. Today, we maintain a bearish outlook. For the trend to change, a firm hold above $78,500 is needed; otherwise, the main trend will remain bearish. The reasons were discussed in yesterday's article, which interested readers can refer to. Intraday Trading Recommendations: For Bitcoin, short positions are recommended between 77500 and 78000, with a stop-loss at 78600 and a target of 76000. If it breaks below 76000, follow with another short position, targeting the 74000-73000 range. For ETH, the strategy remains the same as yesterday: short positions are recommended between 2130 and 2150, with a stop-loss at 2200 and a target of 2000. ETH is relatively weaker and less volatile than Bitcoin, therefore, Bitcoin is recommended as a priority for contract trading. For those interested in discussing trading strategies, please see my profile for timely real-time order alerts.