The master said about the coin: On May 29, Bitcoin's rebound is promising, but the overall trend still looks bearish

Livermore once said: Excellent investors are always waiting, always patient, waiting for the market to confirm their judgments. Remember, do not fully trust your own judgment until the market itself confirms your view.

**　　BTC 4-hour chart**

4H MACD: From the 4H level chart, we can see that both the DIF line and the DEA line are below the 0 axis, and the DIF line is moving downward, indicating a downward trend. The green histogram shows that the bearish strength is strong.

**　　4H KDJ: Currently, the KDJ indicator shows that both the K line value and the D line value are hovering around 50, while the J line value is below 30, approaching the oversold area. Although it shows a weak state, attention should be paid to whether there will be a rebound signal.**

**　　4H MA: The 7MA has begun to turn downward and is expected to approach the 30MA. If the 7MA crosses below the 30MA, it will form a death cross structure, and there is a need to be particularly vigilant about the risk of further declines.**

**　　4H BOLL: Currently, BTC's price is close to the middle track of the Bollinger Bands (68580), and the upper and lower tracks of the Bollinger Bands are narrowing, indicating that price volatility is decreasing. Attention should be paid to whether it will break through and move along the middle track.**

**　　BTC 1-hour chart**

1H MACD: In the current 1H level chart, the MACD's DIF line is below the DEA line, and both are below the 0 axis. The red histogram is getting longer, indicating that selling pressure is weakening, with signs of a rebound.

**　　1H KDJ: Currently, both the K line value and the D line value are at low levels, but the J line value has begun to rebound upward, showing signs of a golden cross, indicating that there may be a rebound opportunity in the short term.**

**　　1H MA: The 7MA is currently below the 30MA, indicating that the price trend of BTC is still bearish in the short term. However, the 7MA moving average has an upward trend and may approach the 30MA moving average to form a golden cross.**

**　　1H BOLL: Currently, BTC's price is below the middle track of the Bollinger Bands, close to the lower track, which means it is currently in an oversold state, with the possibility of a rebound at any time.**

Comprehensive analysis: From the KDJ and BOLL indicators, the price is close to the lower track of the Bollinger Bands, and the J line of the KDJ shows signs of rebound. There may be a rebound in the short term, while the MACD indicator still shows a bearish trend, and the price has not yet broken through the 7MA and 30MA moving averages. Therefore, unless there is a clear reversal signal, the long-term trend should remain cautious.

In summary, the expert provides the following suggestions for reference

Go long on Bitcoin at the 68300-68500 level, targeting 70160, with a stop loss at 67650. (The above points are as of the time of writing.)

**　　Giving you a 100% accurate suggestion is not as good as providing you with the correct mindset and trend. After all, teaching someone to fish is better than giving them fish. The suggestion is to earn for a moment, but learning the mindset will help you earn for a lifetime! Focus on the mindset, grasping the trend, and planning the market layout and positions. What I can do is use my practical experience to help everyone, guiding your investment decisions and business management in the right direction.**

**　　Time of writing: (2024-05-29, 06:00)**