Bitcoin Market Forecast: How to make decisions at key positions?
According to the latest data, Bitcoin has been fluctuating repeatedly near the middle track of the Bollinger Bands, with the price fluctuation range gradually narrowing (the current middle track is about 103,000 USD). The upper and lower tracks show signs of contraction, indicating that the market is building momentum to choose a direction. In the MACD indicator, the fast and slow lines have recently merged, and the energy bars are close to the zero axis, with both bulls and bears in a brief state of balance, so caution is needed for reversal signals.
From the market perspective, there is significant pressure near 105,500 USD above. After multiple unsuccessful attempts to break through, the price has retraced to the support area of 101,000-103,000 USD. If it can stabilize at the middle track in the short term with a MACD golden cross forming, it is expected to test the 105,000 USD level again, or even challenge the upper track of 106,500 USD. Conversely, if it breaks below 101,000 USD, it may trigger short-term selling pressure, dropping to the 98,000-100,000 USD area.
It is worth noting that large orders have been frequently intervening at key price levels recently, indicating a divergence of large funds regarding the current position. Considering the time window (mid-May to September), the market may welcome a trending market next month. Ordinary investors should closely monitor the direction of the Bollinger Bands and changes in the MACD energy bars. When there is a breakthrough, follow the trend; if it continues to consolidate, maintain a wait-and-see approach.
Summary: Short-term fluctuations do not change the medium to long-term trend, and the key is the gain or loss of 103,000 USD. Remain cautiously optimistic before breaking the position.
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