$BTC 5.3 Bitcoin Trend Analysis

First, I wish everyone a happy May Day holiday! Our Bitcoin from 92800 to 97800 has gained a space of 5000 points! The daily candlestick has already broken the Fibonacci line 0.618 and has reached the top of the ascending flag pattern. At this time, many traders are testing short positions because the large-scale trend has entered extreme overbought territory with a reversal trend emerging, and the main force may dump at any time.

The daily candlestick has already broken the highest point of 97850 and the lowest point of 96300. The MACD is showing a bullish divergence with an upward increase in positions, while the DIF and DEA are expanding upwards. The candlestick is standing above the Fibonacci line and stretching upwards. The Bollinger Bands are opening upwards, with the upper band reaching 100300 and the lower band still at the 90000 mark, creating a gap of ten thousand points in between.

On the four-hour level, the ascending flag pattern is in place. The upper pressure level focuses on the pressure zone above 98500, while the lower support level is at 95300. The MACD continues to expand positions, with a bullish crossover between DIF and DEA. The recommendation for the day remains to focus on buying on dips!

Operational Suggestion:

Bitcoin: Buy in the range of 96000-95000, targeting 96500 to 97000; if it breaks, look at 97500.