5.19 Market Analysis
$BTC has been fluctuating around 105,000 USD, with K-lines frequently showing long upper and lower shadows, indicating fierce competition between bulls and bears at this level.
Although a large bullish candle was formed yesterday, a bearish candle appeared the next day, indicating that this "one-day rally" shows insufficient upward momentum.
From a technical perspective, MACD has formed a death cross above the zero axis, and the histogram has turned from red to green, which is a typical short-term topping signal.
RSI surged to the overbought zone at 70 before retreating, indicating that the market is overheated in the short term and needs adjustment. Although the price is still above the 7-day, 30-day, and 120-day moving averages, the short-term moving averages are beginning to narrow, and the upward momentum is clearly weakening.
What’s more noteworthy is the change in trading volume. Yesterday's volume increase and sharp rise seemed strong, but today’s immediate volume contraction and pullback suggest that this divergence between volume and price could be a false breakout. Especially during consolidation near 105,000, on-chain data shows that large funds are quietly offloading.
Currently, Bitcoin's weekly chart has shown 7 consecutive bullish weeks, quickly retreating after reaching 107,000, making such extreme movements difficult to sustain. Even if new highs are achieved, a lack of trading volume to support the pullback is only a matter of time.
For the upcoming layout direction, I will guide everyone to aim for the lucrative opportunities in altcoins, with an expected return of over 10 times being quite reasonable. Like and comment to join me in planning for the entire bull market!
