May 23 Market Analysis - BTC
The current 1-hour trend shows a downward fluctuation, but from the 4-hour perspective, it is a short adjustment phase after a surge. In the short term, it is more inclined towards a box fluctuation in the 110000-112000 range. In terms of indicators, it is currently above the 15-minute EMA moving average, and the MACD's small-scale declining momentum has weakened, showing signs of a turn, which also aligns with the previously mentioned box fluctuation.
Liquidation Chart: Short-term liquidation to 108300, long liquidation completed
Short-term support level: 110250
Short-term resistance above: 111550, 111900
Trading suggestion: You can open positions around the upper and lower parts of the box, short with a stop loss at 112000, and long with a stop loss at 110000. If it breaks below the box, you can consider going long again near 108300.
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