5.12 Market Analysis:
From the market perspective, although Bitcoin's daily line closed down, the lower shadow is very long, indicating strong support below. The price is still near the upper boundary of the rising channel, and all moving averages are in a bullish arrangement, maintaining an overall upward trend.
However, KDJ has entered the overbought zone, and although MACD has a golden cross, the volume is lagging behind, indicating a potential short-term need for a pullback. The most critical factor today is to observe the results of the China-U.S. negotiations; if a deal can indeed be reached and tariffs significantly reduced, capital is likely to flow back in.
In terms of operations, the focus remains on buying on dips. Key resistance levels to watch above are from 105,000 to 110,000, while support below is seen at 103,500 to the 100,000 round number. The specific suggestion is to gradually build long positions in Bitcoin in the range of 102,400 to 103,400, with targets looking towards 105,000 to 107,000.
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