May 20 Market Analysis: Looking back at yesterday's market, it surged and then pulled back to around 102000, oscillating throughout the day to form a small double bottom before rising again at night. It did not break through the 107100 high again and started to pull back around 106800.

Returning to today’s market, we see that the daily line closed with bulls, but the night counterattack still ended with a bearish candle. From the perspective of volume, the high-volume bearish candle is a very dangerous signal. Additionally, the MACD is showing a top divergence on the daily line, indicating a risk of downward correction.

On the four-hour level, it is still in a wide oscillation range. Besides the pressure at 107000, the historical high is 110000. Everyone is currently focusing on and expecting a breakthrough of the historical high of 110000. Whether it can break through depends on the market consensus. Most people have built long positions at the recent lows, and the main force cannot just push the price up to give money away. Therefore, the first scenario is that there are particularly many shorts, which serve as fuel for the bulls to take off. Alternatively, the second scenario is the consensus in the spot market, where more retail investors remain optimistic and increase their positions. Otherwise, Long Ge believes that this four-hour oscillation will continue, leading to increased turnover at this position.

The one-hour level has already seen three rebounds from double bottoms, with each low elevated. Each rebound high is near the Fibonacci level of 0.786. Whether today's rebound high can match the previous rebounds depends on the oscillation pattern between the previously opened high of 107100 and the low of 102000. Long Ge believes that the market is very unlikely to touch the 107100 high again, or the rebound will be flat with this point, followed by a back-and-forth triangular convergence to choose a direction. The reason is that the current market voices are overly eager for a breakthrough at 110000, making short-term bearish thoughts unavoidable for Long Ge's attention. $BTC #BTC挑战11万大关

Thus, the strategy for this week is to wait for high-level short positions.

Upper pressure: 107000-110000

Lower support: 105500-104000