May 26 Market Analysis—BTC
The 4-hour chart is currently operating within an ascending channel, with moving average support and the bottom of the channel playing a significant constraining and guiding role. As long as the lower boundary of the short-term channel is not broken, the outlook remains bullish. However, the emergence of a top divergence and the current proximity to resistance levels also necessitate caution against potential short-term pullbacks. A successful breakout near the resistance around 11 can be cautiously pursued; if it fails to break through and shows signs of weakness, one can wait for a price pullback to the lower boundary of the ascending trend for re-entry.
Support levels: 108600, 107150
Resistance levels: 110150, 111600
The overall trend remains strongly bullish, and the recent strategy is still primarily focused on buying on dips. From the liquidation chart, 108500 is a good entry point, with a stop loss of $200 below the lower boundary.
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