May 15 Morning Bitcoin Outlook: Bitcoin faces resistance during its rally, and when it rebounds, go short!


The daily chart provides a clearer view: after a short-term pullback confirming support, it directly forms a engulfing pattern and rebounds. The price remains firmly above the previous support/resistance turn point, clearly building a platform for oscillation and correction.
On smaller timeframes, it oscillates back and forth, which is just a normal correction after a rally, and each pullback is quite strong. Early morning, the short-term view is a quick rise followed by a fall; once it pulls back to support, go long with the trend. In the short to medium term, you can also take advantage of a short position with the trend!
Bitcoin is recommended to short in the 81,800-82,300 range, with the first target around 80,500.
BTC-0.27%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned