5.7 Wednesday Bitcoin Morning Thoughts

Waking up, Bitcoin directly gave two large bullish candles breaking through to around 96800 points. It almost broke above 97000 points. The short position last night was entered too early. However, it’s fortunate that the subsequent levels were not favorable for shorting; otherwise, one would have been trapped.

Having risen so much already, the morning thoughts are much clearer. Therefore, the main idea remains to focus on going short at high points. But don’t rush to enter the market. Currently, Bitcoin is repeatedly testing the resistance level around 97000 points. We need to see if it can break through and also observe the subsequent resistance at 97500.

However, those who are anxious can directly enter with a light position. It will definitely come down. It just depends on how much space is left above.

Morning operation suggestions

Short Bitcoin between 96900 and 97600, aiming for 95000. If it breaks through, continue to look down at 93000. If it doesn’t break, one can directly reverse and go long.