Crypto Circle Scholar: 5.21 Bitcoin Short-term Stretch Again! Daily Line Three-Day Pressure Level Testing! Latest Market Analysis Reference
Current Bitcoin price is 105700, it is now 1:30 AM Beijing time, the bullish trend remains unchanged. Some say the levels I provided are too far to reach, which is true, because I provided support and resistance near major trend levels. Short-term support and resistance can also be done, but the stop-loss level cannot be too far; the potential gain must be larger than the stop-loss to justify entering the market. Otherwise, it’s better to stay out than to open a position. Watching is the norm when trading risks outweigh potential rewards. For this wave, the trial position stop-loss is set at 104000, targeting over 1000 points, or else it wouldn’t be testing the position at this level.
Looking at the current market, the daily K-line reached a high of 107000 and a low of 104150. The high-level consolidation has tested the top resistance level of 107000 for three consecutive days. The EMA15 trend fast line support has reached 103000. It is evident that the speed of raising the bottom is fast. The top resistance level focuses on the upper band of the Bollinger Bands at 109500, which has also moved up. The middle band is at 101500. The death cross trend formed by the MACD top divergence indicates that the main force is now prepared for both sides, with one goal: liquidation. At this time, whether to choose to go long or short, the stop-loss must be well managed; preserving the chips in hand and surviving comes first.
The four-hour K-line shows a bullish doji star. After probing the EMA30 trend support at 104300, it stretches upward, likely to challenge the previous high. The MACD shows an increase in volume and accumulation, strengthening the bullish momentum. The upper band of the Bollinger Bands' pressure level to watch is 106750; once this breaks, consider testing a short position, but do not short before that. The best approach is to wait for a significant support during a pullback to go long.
Short-term reference: The market is not 100% certain, so always manage stop-losses; safety first. Small losses and big profits are the goal.
For a northward trial position, the entry is from 102500 to 102000 long, with a defense at 101500, stop-loss of 500 points, and a target of 103500 to 104500, breaking above looking at 105500.
For a southward trial position, the entry is from 108000 to 108500 short, with a defense at 109000, stop-loss of 500 points, and a target of 106500 to 105500, breaking below looking at 104500.
Specific operations should be based on real-time market data. For more information, you can consult the author. The publication of the article may be delayed; it is recommended for reference only. Risk is self-borne $BTC
