May 5th Early Morning Thoughts
Today's Bitcoin continues the trend of fluctuating downward but has not reached the short-term support level.
From the daily chart perspective, Bitcoin is currently showing a brief technical pullback, and the current MACD bullish momentum is weakening. The RSI is approaching the overbought stage, making a technical pullback likely in the near future.
From the hourly chart perspective, the MACD bearish momentum is weakening, but the overall trend fluctuations are not significant. The RSI shows a bullish arrangement of three lines, presenting a neutral phase.
Entry Strategy
Enter short at 95,500, target 94,500. Stop loss at 96,100.
