5.14 Thursday

Yesterday, Bitcoin saw the first round of May’s pullback, which ended up being a relatively decent, fairly large decline. Once it pulled back again into that area, we didn’t really get any benefit from it. As everyone knows, recently I’ve mainly been following a bullish-on-retreat mindset. This included yesterday as well—I was looking bullish around 79,600. And right now, I’m still holding it.

As long as yesterday’s dip at 78,700 didn’t break, and over the night the price moved up and rebounded, repairing part of the pullback space, it shows that the “bottom” is still extremely strong. On the four-hour timeframe, the candlesticks fell yesterday to the prior resistance/pressure level area, where it then turned into support and the selloff stopped. So today, as long as it doesn’t continue falling down to the level below, then an upswing—even breaking above the high—is only a matter of time.

Because this pullback may be for the purpose of building a base—waiting for support from the lower moving averages so the price can move up—given the current situation, I’m still strongly leaning toward a bullish trend. The earlier longs you should hold should continue to hold.

If you’re currently on the sidelines (no position), you can wait for a pullback into the 79,200-78,800 area and look to buy in batches. The first target is to see 80,700 break through, then look up toward the 82,000 level #特朗普5月13日访华 #btc .