After a false breakout of BTC at 107100, a sharp drop of 3000 points occurred, with 102000 support line becoming a touchstone.
In the early morning, Bitcoin experienced a wave of false breakout, briefly breaking above 107100. However, it did not hold, and has since retreated to around 104200, resulting in a drop of 3000 points. Here, there may be some fluctuations, as the drop has been significant and a correction is necessary!
In terms of trends:
On the smaller time frame charts, we can see a short-term occurrence of up and down spikes for liquidation. The short liquidity above has also been mostly liquidated. The next concentrated area will be around 114000! Moving forward, we need to pay attention to the support points below and watch for signs of a bottoming out and potential rebound. Currently, a few suitable positions include around 102000, which is near the Fibonacci retracement line, and the lowest point in the fluctuation range around 100500!
Like and follow to not get lost. If you want to get the latest alpha intelligence from the first release of Sheng Sheng's Crypto Diary, quickly click on the homepage.
BTC Analysis: May 19, 2025 Daily Chart
