May 10 Bitcoin Morning Insights
Technical Indicators:
Relative Strength Index (RSI): The current RSI is slightly above 50, indicating that the market is in a neutral to strong state, but does not show obvious overbought or oversold signals.
Moving Average Convergence Divergence (MACD): MACD shows a weakening bullish momentum, which may indicate that prices are facing downward pressure.
Currently, the short-term support below is at 10.2k. If this support is broken, we may see a pullback to 10k. The weekend is expected to be more volatile, so short-term operations are advisable.
Trading Suggestion: Short at 10.35, looking at 10.2.
