Daily Market Analysis in the Crypto Circle (5.20) Summary: Yesterday, $BTC mentioned that if the daily closing price is below 102700, we should expect a sharp decline. However, since the daily close did not stay below 102700, the risk of a significant pullback is temporarily lifted. Currently, 107100 above and 99000 below are two critical levels. If 107100 continues to break through, the pink daily and white 4-hour divergence will need to continue. There are only two reversal zones above: around 108300 and 114000. Even if 107100 is the highest point and we start a 4-hour or daily pullback, as long as the price remains above 99000, it is considered a strong adjustment, and there is still a possibility of reaching new highs. A drop below 99000 would confirm the start of a significant pullback. This morning, a second sell signal appeared on the 30-minute chart. If you have a short position, continue to hold. If the hourly chart does not drop back below 104800 today, you will need to significantly reduce your short position. The resistance above today is at 106500 and 108300, while support below is at 102500 and 101600.
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