Crypto Circle Academician: The main force of Bitcoin's washout and shipment on May 20 has become a foregone conclusion. Will the next step start a bullish counterattack? Latest market analysis reference
Bitcoin's current price is 105,200. It is now 1:30 AM Beijing time, and it is correct to maintain a cautious attitude. Yesterday I mentioned that if it breaks the previous high of 106,000, even if you don't short, you shouldn't chase the highs. Now that the market has moved, was this wave of liquidation anticipated? The divergence at the top of the market has already indicated that the main force is very likely to pull up and sell off. Now that the selling has ended, many coin friends have already been washed out. What should the main force do? That's right, continue to stretch. By the time you react, the big cake will be back above 105,000. Whether to follow or not is a question of choice.
Looking at the daily candlestick, the highest is 107,100, and the lowest is 102,000. The lowest point just happens to probe the EMA15 trend fast line support point. I have mentioned this position for at least ten days. After the pullback, a rebound occurred. The MACD shows a divergence with a large and a small volume indicator. There is bearish momentum present. The DIF and DEA are also exchanging chips back and forth in alternation between bullish and bearish. The Bollinger Bands upward channel remains unchanged, with the upper resistance level reaching 109,000, and the middle track also reaching 101,000. Every time it reaches a historical high, there will be fluctuations exceeding 5,000 points, so the entry point must be chosen carefully.
The four-hour candlestick main force U-shaped transition has returned to a high position. After EMA60 forms a double-bottom probing trend, it stretches upward, opening up a bullish trend and forming a unilateral market. After continuous volume increases in the MACD, the DIF and DEA form a golden cross. The current resistance point to watch is the upper track of the Bollinger Bands at 105,750. As long as the upper track is not broken, there is still hope for the bears. In such a market, there is no need to rush to enter. You can patiently wait for a stretch to break the previous high or a pullback to break the previous low before entering, which will keep the stop loss not too far and allow for more profit taking.
Short-term reference:
Northbound test entry point 102,500 to 102,000 long, defense 101,500, stop loss 500 points, target looks at 103,500 to 104,500, break point looks at 105,500,
Southbound test entry point 108,000 to 108,500 short, defense 109,000, stop loss 500 points, target looks at 106,500 to 105,500, break point looks at 104,500,
Specific operations based on real-time market data. For more information, please consult the author. The article has a delay in publication, and it is recommended for reference only, with risks borne by the reader. $BTC
