5.11 Cryptocurrency Mr. Coin: Bitcoin (BTC) Market Analysis Reference

Yesterday, Bitcoin retraced and then attempted to rise again, with the price expectedly breaking through the resistance level of 104,000. However, there is significant selling pressure nearby, causing the market to face resistance and enter a high-level consolidation. Currently, although the market has not stabilized above 104,000 to show strong upward movement, the range is slowly shifting upward, and bullish sentiment continues to warm up. The trend is expected to break upward, and I hope all coin friends are prepared in advance.

From the daily chart, the trend shows multiple consecutive up days, with prices consistently staying above the upper Bollinger band. Currently, support has moved up to around 102,000, and the five-day and ten-day moving averages are both showing upward momentum. All indicators in the attached chart are showing increasing volumes, indicating that the intraday market remains strong. Mr. Coin suggests that everyone operates in line with the trend.

On the short-term 4-hour chart, the Bollinger Bands are slightly converging, and after the price faced pressure around 104,000, the market entered a phase of high-level consolidation, with the intensity of the pullback gradually weakening. The support below is slowly moving up, and the slow line on the 4-hour level has crossed downward; the red momentum bars are shrinking. The daily level golden cross continues, but the red bars are flattening, indicating a need to be wary of potential top divergence risks. The 4-hour RSI (14) has retreated to around 68, exiting the overbought zone but still in a strong range; the daily RSI (14) is at a high level of 74 in a state of stagnation. EMA: The current price is stabilizing above EMA7 (103,131), and EMA7/30/120 are still in a bullish arrangement. Pay close attention to the defense strength of EMA30 (100,500). The strategy maintains a pullback to enter long positions, with support below at 102,000-105,000.

5.11 Bitcoin Short-term Reference:

Light short position 104,300-105,300, defense at 104,500, stop loss: 500, target below 102,000,

Long position 102,000-101,000, stop loss 500, defense at 99,500, target above 102,500,

5.11 Ethereum Short-term Reference:

Short position: 2,490-2,545, defense at 2,650, stop loss: 50, target below 2,390,

Long position: 2,340-2,390, stop loss 30 points, target above 2,420,

The article has a delay in sending, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how high the judgment and grasp of the market are, it is essential to have stop-loss and take-profit measures in place for safety.