May 18 Bitcoin Short-Term Analysis


Just now, Bitcoin tested the bottom again and hit a new low, directly reaching the major support at the 765 weekly line, forming a pin bar, indicating that there are buyers stepping in below.
Currently, the minute-level chart has started to stay above the zero axis, suggesting that selling pressure has eased. If it cannot stay above, it indicates that institutions still have selling pressure above.
Although the MACD of the second Bitcoin (altcoin) is somewhat less attractive than Bitcoin itself, the weekly chart is steadily declining, and the daily chart has also gone into the water, but during the second wave of Bitcoin's decline, the second Bitcoin has not broken new lows, with a relatively strong support zone between 2100-2112.
Note: The 2112 level was a breakout point in last year's market, which eventually led to a new all-time high. Not sure how effective it will be this time!
Nearby resistance: around 2132, 2160, 2198, 2233, 2260
Nearby support: around 2112-2100, 2080, 2049, near 2100
Note: For reference only, not investment advice.
$ETH
BTC-2.95%
ETH-2.61%
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