Crypto Circle Liying: On May 16, Bitcoin showed a doji star + bottom formation, confirming double reversal signals? Latest market analysis
Crypto Circle Liying: Latest market analysis for Bitcoin on May 16
Article published on 2025.5.16—00:20
Current Bitcoin price is 103500. Liying has updated the practical records, thank you all for your attention. Let's look at the real-time data of the current market. Liying found that the recent price encountered resistance near the previous high of 105850, subsequently retreated and is seeking support amid fluctuations. The current price is fluctuating near the short-term moving average MA7 while approaching the medium-term moving average MA30, indicating that the short-term market may continue to seek support amid adjustments. The narrowing distance between MA7 and MA30 suggests the possibility of a directional choice. Liying suggests that everyone pay attention to the doji star and bottom formation appearing in the recent candlestick patterns, as these signals indicate a possible reversal.
Therefore, Liying recommends that due to the current uncertain stage of the market and the potential for a trend change, investors should adopt a wait-and-see attitude and wait for clearer market directions before taking action. If the price effectively breaks through the support provided by the moving averages and stabilizes, it may be considered for a moderate entry. Before clear upward signals appear in the market, it is advisable to remain vigilant and avoid large investments.
From the indicators and technical aspects, it can be seen that the increase in trading volume complements the price upward process, indicating strong market confidence. However, although the buy signal in the MACD has started to appear, it is weak, which enhances the reliability of the price rebound. It is necessary to closely monitor changes in trading volume to confirm the sustained price trend. The candlestick pattern of three black crows usually indicates increased downward pressure; the doji star and bottom formation suggest a possible reversal; the flat bottom may provide short-term support, thus showing that the support below 102000 is effective, and bulls can hold.
Today's Liying price prediction
Long entry at 102000, add long at 101500, stop loss at 500 points, target at 104500
Short entry at 105500, add short at 105800, stop loss at 500 points, target at 103500
The above analysis is based on market data and trend analysis of the order book by Liying and does not constitute investment advice. For family reference.
