5.27 Pancake Evening Analysis

Current price at the 109,500 level, near the middle band of the Bollinger Bands, with significant resistance near the previous high of 111,950. The recent lower support area of 107,000-108,000 is relatively strong.

The Bollinger Bands are not widening further, indicating a consolidation with a slight bullish structure.

Recently, every time the price retraced to the middle band, there has been capital support, indicating that the bulls are still attempting to control the market.

Currently, there are no major negative news for BTC, and with US stocks recovering and continued net inflow into ETFs, the overall market sentiment remains bullish.

In the short term, safe-haven funds are still flowing in, and with the upcoming June FOMC meeting, market volatility may increase, but the main tone remains a slight bullish consolidation.

For Long Positions

If the price retraces to around 108,000-109,000 and quickly pulls back, one can gradually build long positions;

Or directly break through 112,000 and follow up with increased volume to chase long.

For Short Positions

If the price rebounds and faces resistance near 112,000, testing multiple times without breaking and then falling back with increased volume, one can consider a light short position.