🌞🌞🌞 May 16th Bitcoin Market Analysis!!!
Brothers, good afternoon! Last night, Bitcoin experienced a deep V-shaped reversal, and several attempts to test the bottom were unsuccessful, indicating that the bottom support is still very strong. The spikes didn't break the support level, and it has never managed to break below the 101,000 points line.
However, yesterday's rebound only reached around the 104,000 range but has not been able to go higher, and currently, Bitcoin is in a high-level sideways state.
At this point, with the current fluctuation range not being effectively broken, Brother Guang believes that you can adopt a strategy of high short and low long when trading.
If it breaks downwards, it could lead to a waterfall effect, so long-position brothers should be careful to set stop-losses, while short-position brothers should be able to achieve stable profits as long as their entry points are not too poor.
But looking at the current trend, points, and fluctuation range, the focus should still be on high shorts.
Throughout the day, Brother Guang will continue to monitor market dynamics, and if suitable opportunities arise, he will guide fans on when to enter the market. Those who want to follow Brother Guang's trading strategy should quickly reach out.
Important: Pay attention!!!
