5.14 Double Bottom Public Thinking


In the short term, after probing the bottom and stabilizing near the lower Bollinger Band at 2252, it quickly rebounds. The Bollinger Bands, which were opening, are now flattening and gradually turning upward. The price retested the middle Bollinger Band at 2260 and stabilized, currently trading around 2259 with a slight strength. In the intraday short term, the market has shifted from weak oscillation to a recovery and upward attack rhythm.

From the market sentiment perspective, the downward momentum caused by panic selling in the early stage has weakened. The accumulation of bottom-fishing support at low levels continues to release, and the short-term bearish momentum is exhausted. Coupled with the recovery window after short-term overselling, this bottoming process is a retest of support, with the bulls regaining dominance.

Trading suggestions: If the price retests and stabilizes with support in the 2257-2253 range, it can directly move north.
The first target is around 2270.
The second target is around 2290.

If the price directly breaks below 2255 and continues to increase volume to break the lower Bollinger Band at 2252, it indicates that the short-term bearish sentiment persists. The long position idea should be abandoned. If the price breaks below without a valid rebound, it can then trend south. $BTC #JaneStreet减持比特币ETF
BTC0.89%
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