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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 bullish 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 retracement after a rally, and each pullback is quite strong. Early morning, expect a quick rise followed by a fall; once the pullback reaches support, go long with the trend. In the short to medium term, you can also take advantage of a short-term downtrend!
Bitcoin is shorting in the 81,800-82,300 range, with the first target around 80,500.
The daily chart provides a clearer view: after a short-term pullback confirming support, it directly forms a engulfing pattern and rebounds, with the price remaining firmly above the previous key support/resistance level, clearly building a platform for oscillation and correction.
On smaller timeframes, the fluctuations are repeated, which are just normal retracements after a rally, and each pullback is quite strong. Early morning, the short-term view is a quick rise followed by a fall; once the pullback reaches support, go long with the trend, and in the short to medium term, you can also take advantage of a short position!
Bitcoin is recommended to short in the 81,800-82,300 range, with the first target around 80,500.