May 18 Evening Bitcoin Market Analysis by Zhou Mufeng



The overall intraday Bitcoin trend is weak and consolidating sideways. Although there is a slight rebound currently, the recovery strength is very weak, and the bearish trend remains the dominant direction!

The four-hour moving averages are in a bearish alignment, and the Bollinger Bands are opening downward, indicating sufficient downward momentum; the hourly chart shows clear resistance, and there are no signs of a bullish reversal.

Trading suggestions:
Rebound to 77,900-78,300 to establish short positions, with initial targets at 76,000-75,000, and a break below to 74,500.
BTC-2.37%
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