5.11 Midday Review

In the morning, the big cake surged and then gradually retreated to 80,500; this round of movement is a normal technical pullback in the market. In the morning, it was also indicated that KONG has walked out of the parallel interval! Peace to Luodai!

This spike was mainly driven by favorable geopolitical developments, but there is strong sell pressure above 82,400. Profits in the market were concentrated in taking profits and exiting, directly causing the price to fall back. Fortunately, the support below remains solid, and there was no panic dumping. Overall, the market trend remains controllable.

From the daily chart perspective, the overall market trend is still bullish. The moving averages remain in a bullish alignment, and the MACD indicator’s structure is stable and has not turned bad. The current overall market is in a sideways-to-slightly-bullish pattern; a pullback and adjustment is a good opportunity for adding on low positions.

Overall, it remains mainly low buys. As long as the key level of 80,000 has not seen an effective breakdown, and the downward trend has not extended,

Light long positions around 80,000-80,005, with targets looking toward 82,000-83,500.

The second cake follows with the same approach: add low buys, positioning around 2,300, with targets reaching above 2,380-2,450. #Gate广场五月交易分享 $BTC