Crypto Circle Scholar: On May 16, Bitcoin focuses on the overnight pullback in the Asian market, while the European and American markets may become the breakout point for bulls. Latest market analysis reference

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The current price of Bitcoin is 104,000. It is now a little past 1 AM Beijing time. After reaching the bottom, there was a pullback. The real-time stop-loss point I provided at 101,200 was almost hit. Some traders were stopped out at 101,500. Since they were stopped out, there is no need to discuss it. It’s better to miss an opportunity than to make a wrong move. For those who were not stopped out, just hold on with peace of mind and wait for the planned profit-taking position.

Let’s look at the daily candlestick chart. After a pullback, the price returned to the golden ratio support level of 0.786 at 102,300. The support below the Fibonacci level is effective, and the bulls continue to gain strength. The EMA15 trend line has already reached 100,500 and is still continuing to rise. The bullish trend persists. The MACD shows a divergence at the top, and the K-line diverges upwards. The DIF and DEA are contracting. The Bollinger Bands' upward channel remains unchanged. The upper pressure level for bulls has reached 107,000, while the middle line is still below 100,000.

The four-hour candlestick chart continuously tests the support at 101,500, forming a double bottom structure, combined with three consecutive bullish indicators on the four-hour chart, allowing bulls to hold confidently and continue to extend. The MACD has continuously reduced in volume, and after the DIF and DEA approach the 0 axis, a trend reversal appears, indicating that bullish momentum is present. After the K-line broke below the lower Bollinger Band at 101,500 and then pulled back upwards, it broke through the middle line at 103,000 and began to impact the upper line at 104,700. After the market completes its movement, we can consider whether to open a short position, but for now, we remain bullish.

Short-term trading strategy reference: The market is never 100%, so always set a stop-loss; safety first. The goal is to minimize losses while maximizing gains, especially when breaking through key pressure and support levels, stop-losses must be executed, don’t resist the position.

For the northbound trial entry point, it’s 102,000 to 101,500, with a defense at 101,000 and a stop-loss of 500 points. The target is 104,000 to 104,500, and if broken, the next target is 105,000.

For the southbound trial entry point, it’s 105,000 to 105,500, with a defense at 105,800 and a stop-loss of 500 points. The target is 103,000 to 102,500, and if broken, the next target is 102,000.

Specific operations are based on real-time market data. For more information, you can consult the author. There may be delays in article publication; the suggestions are for reference only, and risks are borne by yourself. $BTC @BTC #BTC #BTC走势分析