5.21 Market Analysis 🚀🚀
$BTC The four-hour level presents a typical ascending channel structure, with lows gradually rising, indicating that the bulls are in control.
This kind of oscillating upward movement often signifies a buildup phase before a major market event, with each pullback accompanied by stronger buying support.
From a technical indicator perspective, the daily level has entered a transition window.
The MACD dual lines are converging above the zero axis, and the Bollinger Bands have narrowed significantly, all of which are typical precursors to explosive market movements.
However, the trading volume at the four-hour level has continued to shrink during pullbacks, indicating that the bearish force is waning.
Key support levels are concentrated in the range of $102,500 to $103,000, which is not only where the middle line of the Bollinger Bands is located but also a defensive area that has been validated multiple times recently.
If the price stabilizes here, there is a high probability it will retest the previous high of $107,000.
If accompanied by a volume breakout, the upward space will be completely opened up.
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