5.12 Cryptocurrency Mr. Coin: Bitcoin (BTC) Market Analysis Reference

Bitcoin continued its upward trend yesterday, with prices consistently climbing, reaching a high near the 105000 level where it faced resistance. Subsequent pullbacks and rebounds failed to break the upper pressure, resulting in a temporary pause in bullish sentiment. Currently, the coin price is stabilizing above 104000, maintaining high-level fluctuations.

From the short-term 4-hour chart, the Bollinger Bands are in a slightly contracted state, with short-term upward movement facing obstacles and entering a high-level consolidation. The MACD shows a dead cross on both the 4-hour and 1-hour levels, and the MACD histogram is gradually shrinking. The RSI is in the 50-65 range on both the 4-hour and 1-hour levels, not entering overbought or oversold zones. The short-term market is in a neutral state, with the MA moving averages indicating that the price is hovering around EMA7 (104103) on the 4-hour level. The short-term EMA7 and long-term EMA120 (96198) still maintain a bullish arrangement, but the slope has slowed down. The price is currently in a short-term oscillation range, with technical indicators leaning towards neutrality. Although short-term upward momentum has weakened, there has not yet been a significant reversal. For those unable to grasp the operation, it is advisable to observe. A conservative approach would still focus on buying the dip.

5.12 Bitcoin Short-term Reference:

Light short position 104500-105500, with a stop-loss at 106500. Target: below 103800.

Long position 102000-101000, with a stop-loss of 500, support at 99500. Target: above 102500.

5.12 Ethereum Short-term Reference:

Short position: 2570-2635, with a stop-loss at 2850. Target: below 2490.

Long position: 2400-2440, with a stop-loss of 30 points. Target: above 2500.

The article is delayed in sending. The strategy suggestions are for reference only. Market conditions change rapidly. No matter how high the confidence in market judgment, profit taking and stop-loss must be implemented to secure gains.