Friday Morning Analysis of Bitcoin on May 16

In the four-hour chart, the fluctuating market continues, with the coin price operating most of the week between the upper and lower bands, indicating a clear phase of consolidation and adjustment; the warming and upward movement of technical indicators also suggest that the day will primarily focus on upward fluctuations.

In the short term, there will still be considerable volatility. For direction, we will maintain a bullish outlook for now, and after facing upward pressure, we will look for opportunities to short. Therefore, within this structure, every pullback presents an ideal opportunity to go long.

Targeting a range of 102700-103000 for Bitcoin, with a goal of reaching the 104500 range.

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