Bitcoin Analysis on May 14

Yesterday's trend was quite satisfying, with a significant rise of over 101,600 long positions, reaching 104,300, giving a total of 2,600 points of space. Early this morning, after failing to break the 105,000 mark, the price began to decline continuously. Although the drop was not large, it provided an opportunity for bears to release their emotions, setting favorable conditions for a subsequent rise in Bitcoin. Currently, from the 4-hour level, the price has pulled back to the 103,600 level, and Fibonacci 382 (103,350) is expected to provide good support. The MA moving average system shows that the 5-day moving average has crossed above the 10-day and 30-day moving averages, and the short-term 30-day moving average is providing effective support. After a short-term adjustment from the decline, a bullish trend is expected to continue; once market emotions are released, the bulls will regain dominance. The MACD indicator shows that the fast and slow lines are sticking together above the zero line and are gradually forming a golden cross, while the trading volume indicator is also expected to start a bullish conversion. Overall, it is recommended to maintain long positions around 103,500 during the day.

Trading Strategy:

BTC: A long position can be taken around the current price of 103,500, targeting near 105,000. If broken, look for 107,000.

ETH: Long at around 2,620, targeting 2,700; if broken, look for 2,770. #$BTC $ETH #Strategy增持比特币