Good morning, I am Oupeng. Today is 2025/05/11, and the overall Bitcoin price is showing an upward trend, trading above the moving average. The appearance of the red three soldiers pattern indicates strong upward momentum, but there is also a potential top formation that may signal a short-term correction risk.
In the short term, the market is currently in a high-level adjustment phase, with potential for corrections or fluctuations. Particular attention should be paid to the resistance level of 105000.1 and the breakthrough situation at 103610.0.
Suggestion: Given that the current market still maintains a strong upward trend, but there is a possibility of short-term adjustments, it is recommended to hold a neutral position and wait for the price to break through key resistance levels before increasing long positions. If the price shows a significant decline and clear short signals appear, one may consider shorting. Be cautious about chasing highs and cutting losses, and pay attention to changes in market volume to verify the continuity of the trend.
From the candlestick patterns, the red three soldiers reinforce the upward trend, while the top formation suggests a possible short-term correction. The appearance of a doji may indicate a pause or reversal in the trend.
RSI: The RSI is in the neutral to strong region, with recent buying strength indicating a strong short-term bullish momentum.
TD: The TD9 signal indicates that the trend is nearing exhaustion, and potential correction signals should be watched closely.
MACD: The MACD histogram has turned from negative to positive, indicating an upward trend, but the histogram has started to contract recently, suggesting that upward momentum may be weakening.
Alligator: The divergence of the three moving averages indicates that the market is in an upward trend, although there is a slight correction, the overall trend remains strong.
Volume: Recent significant increases in trading volume have driven prices up; however, current volume is declining, indicating reduced market activity.
So, hold a neutral position and wait for at least a clear signal on the hourly chart.
This is my view on the current Bitcoin trend, offering some insights for reference. Finally, I wish everyone a fruitful day.$BTC