Monday, May 19, Bitcoin Latest Market Analysis

Originally thought this week the weekly chart could close with a small bearish candle. Unexpectedly, it was pushed up again over the weekend. Although it has once again broken new highs, it hasn't really broken down significantly. Moreover, in the evening, it sharply retraced to around 103,200, currently forming a double top pattern. Last week was a sideways consolidation week, and there's not much to say about it. The fact that it hasn't continued to break significantly to the upside is good news; relatively speaking, it is still at a historically high position. Looking at the bigger picture, there aren't any problems.

In terms of technical structure, we won't discuss it for now. Currently, the focus is still on market sentiment for positioning. The recent market has been a bit chaotic due to the yellow hair (referring to a specific person or entity). Up and down can basically be influenced by their words. This makes technical analysis quite difficult. We primarily rely on news for positioning. Slowly moving down, there aren't significant issues with the layout.

In the morning strategy, we can still wait for a rebound to short. Bitcoin can be shorted at 106,000 with a target of 103,600. Ethereum can be shorted around 2450 or 2520, with a target of 2400, depending on the breakdown situation. #MichaelSaylor暗示增持BTC #山寨季何时到来？ #币安AlphaSUI生态交易竞赛 #以太坊安全计划 #稳定币日常支付 $BTC $ETH $XRP