5.1 Bitcoin Market Analysis

Overnight, the price of Bitcoin surged to around 94,700, and has currently retraced to around 94,200. The live price alert given by Xing Ge at midnight also captured another 800 points! From the 4-hour candlestick chart, last night the price dipped, touching the support level at the intersection of EMA120 and MA220, before rebounding and forming a long lower shadow. The current candlestick is above the MA60, indicating a rebound trend. As long as it doesn't fall below the strong support at 92,700, it will continue to rise and test the resistance levels in the short term.

Morning specific suggestion: Wait for a pullback, then look for an opportunity to enter.

Bitcoin 93,700-93,500 entry, target 94,700-95,500

Ethereum 1,770-1,750 entry, target 1,805-1,840