Thursday, May 22nd Analysis and Recommendations:
The price of Bitcoin surged to around 109,800 during the night but faced selling pressure, falling back to the support level of 106,085, triggering a rebound. After completing technical adjustments, it launched a strong counterattack, breaking through 110,000.
From a technical perspective, the daily chart shows a strong bullish candle in the morning, followed by a slight pullback after breaking the upper resistance. Currently, while the bulls appear to be aggressive, the signs of manipulation by major players are hard to conceal. The market is at a high level, and risks are continuously accumulating. Blindly chasing after price increases can easily lead to being trapped in losses; it is recommended to focus on short positions in the early session.
Trading Recommendations:
Bitcoin: Short at 110,700-111,200, target around 108,500.
Ethereum: Short at 2,620-2,640, target around 2,520-2,500.
The price of Bitcoin surged to around 109,800 during the night but faced selling pressure, falling back to the support level of 106,085, triggering a rebound. After completing technical adjustments, it launched a strong counterattack, breaking through 110,000.
From a technical perspective, the daily chart shows a strong bullish candle in the morning, followed by a slight pullback after breaking the upper resistance. Currently, while the bulls appear to be aggressive, the signs of manipulation by major players are hard to conceal. The market is at a high level, and risks are continuously accumulating. Blindly chasing after price increases can easily lead to being trapped in losses; it is recommended to focus on short positions in the early session.
Trading Recommendations:
Bitcoin: Short at 110,700-111,200, target around 108,500.
Ethereum: Short at 2,620-2,640, target around 2,520-2,500.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
105,510.54
+1.10%
