【$BTC Suspected Diamond Top!!! May Face Deep Correction】
BTC 4-Hour Analysis 25.05.16
Current Price 103650
Current Trend: Bullish, Correction Phase
Market Analysis:
After a strong breakout, currently approaching 105000
Resistance Level Consolidating, Expected to Last until May 21
Technical Analysis:
Currently in a high-level consolidation, forming a suspected diamond top
Characteristics of This Pattern:
This pattern has a particularly high destructive power. After formation, the rebound is weak
Important Support and Key Signals:
Key Support:
Trend Support 99000
Currently in the 3rd wave of an upward move, with significant correction space.
Market Projection:
If the diamond top is established, then follow up with short positions.
If it breaks a new high next week, then follow up with long positions.
This is a typical chasing highs and cutting losses market.
Important Time Nodes:
May 21 will see an important directional reversal,
Need to pay special attention!
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