May 13th Daytime Market Analysis:
Good afternoon brothers, yesterday Bitcoin briefly touched 1058 during the day and then came down. This upper shadow is a bit long, indicating significant selling pressure above. Therefore, the three smaller levels of 1-2-4 have started to move downwards. I have been reminding everyone not to chase longs and to wait for a pullback before entering these past few days. I hope no one is getting too anxious. You dare to chase during an uptrend, but when it comes to moving down, you hesitate. How can you make money like this? Even when given the opportunity, you aren't making use of it!
You may not understand any indicators, but you must understand human nature. The FOMO (Fear of Missing Out) sentiment is too strong, and that’s not a good thing. You can refer to the previous big uptrends; they all fell after getting too hot!
A few days ago, I reminded everyone about the 93,000 long positions and over 12 billion in liquidation maps. Next steps, those who understand will understand. When everyone is still in FOMO, it’s the time when risks arise. I told everyone not to chase the ups and to wait for a pullback. After a false breakout last night, we started to retrace. Bitcoin dropped nearly 5000 points from the top. I took a look at the altcoins, and they also started to flood out. Of course, opportunities come from declines. As long as the expectations of interest rate cuts are still there, pullbacks are just opportunities for everyone to get in!
Tonight at 8:30, there will be CPI data. Please pay attention to the news. Try to avoid trading based on news! The CPI data is likely to be bad, so everyone should be cautious.
Bitcoin Resistance Levels
104800, 105800, 107000
Bitcoin Support Levels
99500, 98000, 96500
Ethereum Resistance Levels
2575, 2625, 2675
Ethereum Support Levels
2360, 2315, 2270
BNB Resistance Levels
671, 682, 690
BNB Support Levels
630, 622, 615
SOL Resistance Levels
173, 178, 183
SOL Support Levels
167, 164, 161
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