5.10 Can Bitcoin hold at 100,000? Can the bull market continue?
During the day, BTC made two attempts to break through 104,000 but encountered resistance, subsequently declining. It is currently beginning to oscillate and repair, which is a typical performance of bullish accumulation. On the technical front, the weekly MACD has returned above the zero axis, and the daily bullish arrangement trend remains unchanged, still dominated by bulls. The hourly KDJ lines are converging and turning downward, indicating a slight reduction in bullish momentum, forming a high-level oscillation range overall.
The current BTC price is above 103,000, but a doji candlestick pattern has appeared in the 1-hour cycle, reflecting indecisive market sentiment. Combining this with the chip distribution indicator, we find that the current price range has sparse chips, with strong support located around 97,000, only 6.05% away. The chip distribution shows a dense low-price area, indicating strong buying force below, which may create a rebound opportunity in the short term. Additionally, the MACD histogram continues to grow, along with the EMA24 and EMA52 in a bullish arrangement, indicating that upward momentum has not completely faded, maintaining a low-buying strategy.
Operation Suggestions:
BTC Long at 101,000 First target at 103,500 Second target at 105,500
ETH Long at 2,280 First target at 2,380 Second target at 2,480
