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5.16 Morning Market Overview: Will the big coin complete the butterfly pattern after forming a W bottom?

$BTC The big coin opened with a hammer candlestick this morning, showing an intraday upward trend.

The 4H big coin has already formed a W double bottom structure, and is currently in an upward structure; resistance above is at 10.43, 10.5, 10.57, and support below at 10.37, 10.27, 10.14; at the same time, there is a butterfly pattern appearing for the big coin, predicting that the point D will land at 10.7273, which will form a reversal, so one can short on the left side and defend at 10.8, according to the harmonic targets of 10.4767 and 10.3205, but we can move the stop profit according to the upper support; in summary, the big coin is a bullish structure.

Looking at the 1H big coin, it forms an ascending triangle, we can wait for the big coin to retrace near the trend line around 10.37 to enter long on the right side, or wait for a break below the trend line to pull back and enter long in the direction of the trend, with defense at the break point, targeting 10.43 and 10.5.

For today's market, it is recommended to primarily focus on long positions on the retracement, as we are currently in a bullish trend; the W bottom has formed a right shoulder which should pull up for a wave, and one can short on the left side for the landing point of the butterfly pattern;

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