The current trading sentiment in the cryptocurrency market is quite intense; going long or short is no longer solely about short-term trading goals, but rather targeting significant profit margins. Since Bitcoin broke out upwards from its bottom consolidation, whether it surpasses historical highs or the extent of any pullbacks, it has reignited strong bullish sentiment. Even if it returns to 106,000, many see it as merely a moment to buy back in, as those entering expect a direct rebound. Everyone is hoping for a breakthrough of previous highs or even new highs; this is the current hopeful market sentiment that everyone is envisioning. In fact, last week, most of the strategies provided by Yan Ling yielded quite good profits in terms of space, although there were one or two trades that hit losses later on. Nonetheless, as long as you followed through from start to finish, the overall data still shows a tendency towards profit. Yan Ling is very grateful for the ongoing support from friends and will continue to work hard to create more wealth for everyone. Thanks also to the followers for their encouragement and trust during the lows! Professionals do professional work, and Yan Ling will definitely lead everyone to create brilliance again in the future and will not let anyone down!
Now, let's continue to analyze the technical indicators on the chart. Over the weekend, the cryptocurrency price fluctuated between 108,000 and 109,000, forming a narrow consolidation box. The daily level shows that after a large bearish candle on May 23, the market entered an adjustment phase and is currently in a rebound struggle. The MACD on the hourly cycle continues to operate below the zero axis, and the histogram has shortened, indicating that bearish strength is weakening, and the market is likely to shift back to a bullish trend soon. The RSI value on the hourly cycle hovers around 45, not entering the overbought or oversold zones, showing that the current market is relatively neutral. The EMA7 and EMA30, EMA120 moving averages are in a confluence state, with prices oscillating near the EMA7. We need to pay attention to whether it can effectively break through this moving average to confirm the direction. Overall, next week, the focus in operations should be on the support level at the bearish-bullish watershed of 101,000. As long as this level holds and does not break, the overall long-term direction will still mainly focus on bullish operations. $BTC
