Analysis of Bitcoin Market on May 19

From the one-hour perspective, the last surge of bullish momentum broke through to a new high, soaring to around 107,000 before plunging to approximately 102,600. In the short term, the resistance for Bitcoin to watch is around 103,000; touching this level will present a short selling opportunity. After the bearish volume has been released, the Bollinger Bands have opened downwards, and the MA 7-week moving average has first fallen below the middle line. Bitcoin is expected to retrace to around 100,400 during the day. After hitting support, pay attention to whether the support holds. The MACD on the chart is showing a bearish crossover at a high level, indicating sufficient downward space. Overall, Bitcoin is expected to wait for a rebound to around 103,000 before turning bearish.

Trading Advice: Sell in batches at 103,000-103,500

Target: Break below 100,500 to 98,500

Risk Control: 104,000