5.17$BTC Market Analysis
The Bitcoin rebounded to 104,500 last night and was clearly resisted, currently, the price is oscillating narrowly around 103,200
From the market trend, although there is some support below, the highs of each rebound are gradually lowering, indicating that selling pressure is increasing
Technical indicators show that the market has entered a wait-and-see state, the 4-hour Bollinger Bands are continuously narrowing and flattening, indicating that the short-term direction is unclear
Although the shape seems like a double bottom support, the rebound momentum is obviously insufficient, more like bulls are resisting rather than reversing
Currently, it is recommended to focus on short positions, with particular attention to the pressure area of 104,000-104,500. If the price rebounds to this level and is resisted, a short position can be arranged, with the primary support below at 102,000
In the upcoming layout direction, I will guide everyone to aim for the lucrative opportunities in altcoins, expecting a space of over 10 times is not a problem, like + comment, and I will take you to layout the entire bull market!
