Crypto Circle Academician: Can the short position of Bitcoin break through 106500 on May 29? Can the shorts suppress the upward trend to welcome a new low? Latest market analysis reference
The current price of Bitcoin is 107300, it is now 1:30 AM Beijing time, everyone is still in the car, right? If you have boarded southwards, don't rush to get off. You can take some profit near 107000, and don’t rush to leave the rest. I have mentioned before that many people who don’t like to set stop-loss are waiting below the 100000 mark to break even. We don't need to look too far; flipping the position is not unreasonable. Even if it goes back above 110000, that's fine. Just make up for the reduced portion to adjust the average price, maintain good stop-loss, and manage risk. If wrong, continue to test the high position short orders.
The daily K-line reached a maximum of 109300 and a minimum of 107000, and has not yet stood on the EMA15 trend support point of 106700. It is uncertain whether the short position can open a gap. It’s better to take some profit in advance to avoid a wasted effort. Pay attention to the large-scale trend support point at 103000. The MACD continues the top divergence and the trend of increasing positions remains unchanged. The DIF and DEA are spreading downwards at a high level, enhancing the bearish trend. The upper pressure level of the Bollinger Bands is at 111300, and the lower support level is at 101000.
The four-hour K-line has continuously broken support downwards, and the EMA trend indicator shows a downward contraction trend. The short position can be held, focusing on the EMA120 trend support at 105000. The MACD is decreasing in volume and increasing positions downwards, with the DIF and DEA impacting the 0 axis downwards. Whether the shorts can open a gap depends on whether the high-level large-scale neck line support at 106500 can be broken; otherwise, the market will continue to consolidate at a high level. Therefore, after opening a short position at 110000, it is not recommended to exit all at 107000, but to take some profit first and let the rest be handled by time.
Short-term reference: The market is not 100% certain, so you must maintain good stop-loss; safety first, small losses, and big profits are the goal.
For northbound test positions, 106500 to 106000 long, with a defense at 105500, stop-loss of 500 points, target looking at 107500 to 108500, break point looking at 109500.
For southbound reference, 110000 to 110500 short, with a defense at 111000, stop-loss of 500 points, target looking at 109000 to 108000, break point looking at 107000.
Specific operations are based on real-time data of the market. For more information, you can consult the author. There may be a delay in the article release; it is suggested for reference only and risks are to be borne by yourself.