Expert discusses hot topics:
I didn't update yesterday's 5.19; for those in the crypto circle, there's no need to elaborate too much. Bitcoin experienced four rollercoaster rides in 24 hours, peaking at 107K and dipping to 102K, back and forth four times, leaving many leveraged traders in despair.
And it's not just Bitcoin that is going crazy; even U.S. stocks are participating. Moody's downgraded the U.S. rating, causing a panic sell-off. But this wave of panic is just a childish play; the market has not been subdued at all.
U.S. stocks, gold, and Bitcoin all rose last night, what does that indicate? The market's sensitivity to uncertainty is still online; regardless of ratings, money is still looking to flow to safer places.
Moreover, the health of the U.S. economy has long been anticipated by analysts and fund managers, who still takes it seriously? The real powerhouse is Bitcoin, with a total market value of 3.4 trillion dollars, of which Bitcoin alone accounts for 2 trillion.
If, I say if, Bitcoin reaches 200,000 dollars, the market value would be 4 trillion? I advise you to stop dreaming; first look at what the Federal Reserve is doing. Without interest rate cuts or liquidity injections, how could that possibly happen?
Returning to Bitcoin, the market has been in this high-level consolidation for some time, leading retail investors by the nose. Yesterday's drop can only be seen as a pullback, a crazy shakeout, and altcoin holders have been scared out of their wits, yet fundamentally the bullish trend remains strong.
You see the current sector differentiation, Bitcoin is consolidating while altcoins are plummeting. This proves a point: even if Bitcoin reaches new highs, altcoins may not benefit, just look at Ethereum.
Speaking of bullish or bearish? Personally, I believe that if you want to touch 120K, 130K, or even 150K, you still need solid backing. Interest rate cuts and liquidity easing are the real signals; otherwise, just reminisce about the recent range-bound market.
Expert observes the trend:
Resistance level reference:
Second resistance level: 108500
First resistance level: 107200
Support level reference:
Second support level: 106000
First support level: 104800
Today's suggestion:
If the coin price can hold above 105.5K (retracing to Fibonacci 0.786), we can expect further upward movement. If there is a moderate pullback, we might see 104.8K (near Fibonacci 0.618), and further down would be 104K (around 0.5).
The above are the previous highs that have been broken through, which can serve as reference points for phased buying. If the price consolidates in the current range, it is expected to challenge new highs again.
At the daily level, a solid bullish candle has appeared, indicating limited room for a pullback. For very short term, it is more appropriate to intervene at a more suitable entry price during temporary dips, waiting for the coin price to continue breaking upwards. With the increase in trading volume, the probability of hitting a new high of 110K is also increasing.
Currently, the 104.8 to 105.5K range is also a healthy pullback, and buying points in this area can be observed. For aggressive strategies, a pullback to around 104K can be expected; conservative strategies should focus on the 104.8–105.5K range.
The upward trend remains strong, and the primary strategy for the day should be to maintain a long position. Key points to watch: the first and second support levels as well as 104K and the rising trend line as short-term entry references.
5.20 Expert's planned trading:
Long entry reference: gradually buy in the 104000-104800 range, target: 107200-108500
Short entry reference: not currently referenced
If you genuinely want to learn something from a blogger, you need to keep following them, not just look at the market a few times and jump to conclusions. This market is filled with performers—today showing long positions, tomorrow summarizing shorts, appearing to 'catch tops and bottoms' every time, but in reality, they are just making after-the-fact comments. A truly worth-following blogger will have a trading logic that is consistent and coherent, and can withstand scrutiny, rather than jumping in when the market moves. Don’t be blinded by exaggerated data and out-of-context screenshots; long-term observation and deep understanding are needed to distinguish who is a thinker and who is a dreamer!
