5.1 Daily Market Analysis
Today is the first day of May, so let's first discuss the monthly trend for this month.
The overall trend this month is upward, and the strength should exceed that of April. Without clear bearish signals, we should not easily open short positions. As for how high it can rise, let's not indulge in wishful thinking or predictions; we will just follow the trend. According to the basic principle of reducing positions when BTC first breaks below the four-hour life line, and exiting when it breaks below the daily line, we may not sell at the highest point, but we can capture most of the market movements.
From an intraday short-term perspective, BTC tested the four-hour life line for the second time yesterday, and a quick rebound occurred at this position. However, based on the four-hour performance of USDT.D, it is still above the four-hour life line, and we cannot rule out the risk of a short-term pullback for BTC.
Therefore, the best scenario would be a pullback at the beginning of May, followed by an upward trend. As for whether this pullback can happen, let's not predict; we will only follow the trend, and we will only enter short positions when bearish signals appear. As long as it hasn't broken below the life line, we will maintain a bullish outlook.
