Daily Crypto Market Analysis (5.2)

Summary:

The pink daily line of $BTC is about to end its rise. The target of 95000 has been mentioned daily for a month and has now been achieved. 99000 has not been reached yet, but this price is a point of observation. If 99000 can break through, there will be at least one daily line pullback to around 83000. If 99000 does not break, then this daily line pullback will go below 74400. In short, there is still a risk of a sharp decline in May. The white 4-hour chart needs to rise to 105000 to avoid divergence; otherwise, it will form a double central trend divergence structure, which will inevitably return to the center. If the lower edge of the center, 92300, breaks, and the rebound does not surpass the previous high, that will be the best short point. The intraday support is at 94600, and the upper pressure is at 97300 and 98500. Currently, in this market, there are too many trapped short positions below. Even if the market consolidates at high levels for ten days to half a month, a sharp decline would not be surprising, as it allows those people to cut their losses while also making the bulls go crazy, killing two birds with one stone. Just a reminder, although the bullish structure has not broken, it has been a divergence in volume and price while rising. Going long is not impossible, but one must always be cautious of risks.