5.4 Market Overview: #数字资产法案

$BTC Bitcoin closed with a solid bearish candle this morning, with volume decreasing. At the same time, there are signs of a death cross on the daily chart, and the intraday market continues to oscillate downward.

According to yesterday's post, Bitcoin did not form a head and shoulders pattern. If it had formed a head and shoulders pattern, the 1:1 retracement candle should be around 95 or the daily support should be near 95.1. Currently, Bitcoin has rebounded after touching the small support at 95.5, creating some support. We will see if it can withstand multiple tests at 95.5.

On the right side, if the candlestick breaks 95.1 and quickly recovers, a small position can be opened for a long; or if it tests 95.1 and does not break below, trend-following long positions can be taken, with a stop loss at 94.1 and a target at 96.5. The left side is not recommended for now, as Bitcoin is looking for support again, so choosing the right side is more appropriate; additionally, due to insufficient liquidity over the weekend, it is best to focus on right-side trades or observe without positions.

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