5.20 Bitcoin Latest Trend Analysis

Yesterday we shorted from 105000 to 103000, and in the evening session went long from 102100 to 104300.

The daily candlestick chart had a highest point of 107100 and a lowest point of 102000, where the lowest point just touched the EMA15 support level. A significant and minor volume indicator showed divergence at the MACD top, indicating bearish momentum. The Bollinger Bands remain in an upward channel, with the upper resistance level reaching 109000 and the middle band at 101000.

On the four-hour timeframe, a U-shaped transition returned to the high, while the lower level of 102000 formed a double-bottom trend, stretching upwards. This opened up a bullish trend, creating a one-sided market. After the MACD continued to increase in volume, the DIF and DEA formed a golden cross. In this kind of market, there is no rush to enter; it's better to patiently wait for an upward stretch to break the previous high or a pullback to break the previous low before entering.

Bitcoin: Short in the range of 107500-106800, with a target of 105000-104500$BTC