5.21 Evening Analysis
Currently, the position of Bitcoin is quite tense between long and short, as it has eliminated most of the short positions. From the clearing map, it can be seen that the number of people shorting the market far exceeds those going long, so those who understand, understand～
After several rounds of market consolidation followed by a surge, we find that the strength of each rise is gradually weakening, but at the same time, it faces the pressure of previous highs. Currently, from a technical perspective, the trend is in a bullish area, but the awkward position is at the daily level because it needs to correct the high-level shorts at the daily level. It requires a form of fluctuation or pullback to fix this. A significant drop at this position is not visible, but for us, both long and short have opportunities. Personally, I believe that as long as the four-hour does not drop below the zero line, it will revolve around 104800-101700 for correction. After the correction is complete, it will drive a daily level breakout, then end this wave of short-term highs, likely around 115000. So to summarize, this position is primarily for short-term trades, as the cost-effectiveness for long positions is not high here.
For reference only, not investment advice.
