Yesterday, Bitcoin reached a new short-term high of 95,758 points, encountering resistance at 96,000 and making a slight pullback. The daily line has had 7 consecutive positive days, and today is a short-term turning point. We can see that the current upward momentum of Bitcoin has slowed down, with 96,000 to 97,000 being an important resistance level on the weekly chart. My viewpoint remains the same; the current market does not have reversal conditions, and reaching around 98,000 would be quite impressive.

Currently, the 1-hour MACD is in a death cross, and the 4-hour MACD is also in a death cross state, indicating a short-term pullback. If there is a short position, then the stop-loss should be set at 96,000, and it's suitable to trade with a light position.

For medium-term investors in spot trading, the current position is not suitable for a low-entry strategy, with less than 3,000 points of upside potential, while a downside could be as much as 10,000 points. The risk-reward ratio is not favorable. It's better to continue observing here and wait for Bitcoin to pull back to around 80,000 before considering a low-entry strategy, at which point we will look for specific stabilization levels.

June 18 is the date of the Federal Reserve's interest rate meeting, and the market estimates a high probability of interest rate cuts. Therefore, from mid-June onward, Bitcoin is expected to initiate a major rise to new weekly highs, and we should seize the opportunity at that time.

Summary:

1. The opportunity for medium-term low entry in Bitcoin has not yet arrived; it is currently suitable to wait.

2. The short-term has started to pull back; if taking a short position with a light load, the stop-loss should be set at 96,000, and take profit at 92,000 (remember that short-term trading must have a stop-loss awareness). #币安Alpha上新