5.27 Market Analysis

Bitcoin experienced a daily high and then a pullback, with prices rising to 110400 in the evening until midnight, facing resistance. Currently, the trend is consolidating around the 109000 level, with low trading volume in the short term and both bulls and bears in a stalemate. There are currently no signs of a breakout, forming a high-level fluctuation pattern.

On the hourly chart, a long upper shadow and increased volume recently indicate strong selling pressure around 110000. The current price is testing support near the middle Bollinger band around 10880. The previous low of 106500 is a key defensive level. On the daily chart: After forming a hammer candlestick on May 24, there have been three consecutive days of closing in the green, indicating a strengthening mid-term trend. On the daily level, after the golden cross, the first appearance of shortened green bars should alert us to a potential short-term pullback. Currently, the coin price remains in a bullish sentiment, with short-term high-level range correction, and the long-term trend still leans upwards! #BTC