Cryptocurrency Liying: Bitcoin caught in a belt line on May 12, short-term top signal confirmed? A thousand-point pullback is imminent! Latest market analysis
Cryptocurrency Liying: Bitcoin latest market analysis on May 12
Article published on 2025.5.12—01:00
Current Bitcoin price is 104000. Following the usual practice, let’s analyze the overall market first, which provides a clearer view. The current market is in a consolidation phase within an overall upward trend, with K-line fluctuating near the upper Bollinger Band, while the trading volume remains steady to slightly low. Short to medium-term pressure is evident. Therefore, from Liying's short-term perspective, the market may face pullback pressure. On one hand, the weakening MACD momentum indicates increased selling power, which could lead to a death cross. On the other hand, the pressure from the upper Bollinger Band and reduced trading volume shows that the current market sentiment is hesitant and may need to digest previous gains.
Liying suggests closely monitoring the resistance levels at 104750 (upper Bollinger Band) and 105000 (previous high). If the market breaks through these resistances, it may continue to rise; otherwise, caution should be exercised regarding pullback risks. Consider looking for buying opportunities when the price retraces to the middle Bollinger Band at 103500 or the lower band at 103000, while maintaining caution and setting stop losses. Pay attention to changes in MACD momentum and trading volume to judge the next steps; safety comes first.
Currently, the K-line pattern in the market exhibits a belt line and top distribution pattern that are quite prominent in the short term, indicating potential pullback risks. The MACD suggests the possibility of adjustment or pullback. The K-line fluctuates near the upper Bollinger Band but has not effectively broken through, with support at the middle band indicating optimistic market sentiment. The short-term MA remains strong in an upward trend, with the distance between short and long-term moving averages widening, supporting strong upward momentum. Thus, it can be seen that the bulls are still strong. Liying recommends being primarily long at low levels, with short positions as a supplement.
Today's Liying price predictions
Long entry at 103500, add long at 103000, stop at 500 points, target at 104500.
Short entry at 104500, add short at 105000, stop at 500 points, target at 103500.
The above analysis is concluded by Liying based on market data and trend analysis and does not constitute investment advice. For reference only. $BTC