Crypto Scholar: The risk of chasing Bitcoin on May 14 is extremely high; accumulating at the top is the key! Latest market analysis reference
The current price of Bitcoin is 104300. It is now 4 AM Beijing time. Let’s review the thoughts provided during yesterday's trading session. You can look back at yesterday's article to see how the market went down and how it has returned today. The main force is washing the plate back and forth, accumulating positions. According to the current trend, it will take some time to consolidate at the top, and the fluctuations are enough for everyone to operate.
Currently, the daily candlestick is consolidating at a high level, a typical market for accumulating at the top. You can continuously look for positions to stay in cash, waiting for the main force to clear positions. Following the main force for a wave is enough. The highest daily candlestick was 105000, and the lowest was 101400. The EMA trend indicator is alternating upwards, and the fast and slow lines have already diverged. The EMA15 trend fast line support has reached around the 100000 mark, and it is expected that the candlestick will return to the 100000 mark for consolidation. Currently, this position is not suitable for chasing the rise. The MACD shows a top divergence with a decrease in volume, and there is a demand for the market to retest. You can continuously try positions at high levels.
The four-hour candlestick shows a top divergence market, and it is highly likely to make a surge and then come down. The candlestick is currently at around 103300, near the EMA15 trend line, accumulating at a high level. After the MACD has continuously decreased in volume, the DIF and DEA have shown contraction. The short-term top divergence trend has already completed two-thirds of its course. The Bollinger Bands have expanded and then contracted. The upper resistance level to watch is 105300, and the lower support level is 101700. From this trend, the entry and defense points for shorting have basically been determined.
Short-term trading ideas: The market is never 100%, so always set a stop loss. Safety first; small losses and big profits are the goal, especially when breaking key resistance and support. A stop loss should still be set, so do not hold onto losing positions.
For buying points, try positions from 101000 to 100500, with a defense at 100000 and a stop loss of 500 points. The target is looking at 102000 to 103000, and if broken, look at 104000.
For selling points, try positions from 105000 to 105500, with a defense at 105800 and a stop loss of 500 points. The target is looking at 103000 to 102500, and if broken, look at 102000.
Specific operations should be based on real-time market data. For more information, you can consult the author. There may be delays in the article's release, and it is recommended for reference only; risk is borne by the reader. $BTC