Daily Market Analysis of the Crypto Circle (5.3)
Summary:
The daily line rebound that started at 74500 for $BTC is about to come to an end. The 4-hour central point that started from 92700 has left the line, and the current points have shown obvious divergence. Additionally, with the high-level sideways fluctuations in the 4-hour timeframe, the divergence in MACD and trading volume, various signs indicate a risk of correction. The upper support of the 4-hour central point is 95700, and the lower support is 92700. The target for this 4-hour correction is tentatively looking at the 91500 gap filling. In terms of time cycles, we should still observe 91000; if it does not break, we continue to look upwards around 99000. If it breaks, a rebound above 97800 is just a sell signal at 4.2, which is a moment to escape. The intraday lower supports are 95500 and 94500, while the upper pressures are 97500 and 99000. Currently, there are too many short positions trapped below. The main force is in a high-level sideways position to see how it plays out, first letting those trapped positions cut losses, while also allowing those going long to become frantic. Therefore, I believe 91000 is not likely to break quickly, but May will definitely see a plunge.
