Morning Bitcoin Analysis 5.18, Sister U



In the early session, Bitcoin quickly retreated to the 7.67 level, closing with a large bearish candlestick. Since mid-May, the coin price has continued to weaken, frequently experiencing sharp drops. The hourly chart shows the price breaking below the lower Bollinger Band, MACD momentum is weak, the four-hour Bollinger Bands are opening downward, and the price remains under the moving averages, with indicators showing weakness. The short-term outlook remains bearish.

A rebound to the 7.77-7.80 range can be used to establish short positions, targeting 7.64-7.57, with a stop at 7.83. $BTC
BTC-2.13%
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