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5.6 Morning Bitcoin Outlook: Pressure from the consolidation area calls for a pullback repair; Bitcoin and Ethereum precise targets have been provided
After Bitcoin’s market surged against the trend to around the 81,700 level, even though crude oil prices continued to strengthen and the Iran–U.S. situation continued to escalate, it still failed to push the coin price into a fast rally followed by a quick high-and-fall.
At present, Bitcoin is maintaining a high-level sideways range around the 81,500 area. The pullback repair that is being squeezed by the pressure from the consolidation area has not been able to effectively release sentiment. Meanwhile, yesterday’s U.S. stock market also continued to strengthen in parallel, but Bitcoin has still been unable to break upward and surge to higher highs. The buying side’s push-up momentum is clearly insufficient.
Judging from the overall market rhythm, the short-term intraday approach remains mainly to rise into resistance and then pull back for repair and recovery. At this time, Bitcoin and Ethereum can both be positioned directly with short orders.
Bitcoin’s target is near 80,000, while Ethereum is looking at 2335#WCTC交易王PK