5.19 Morning Bitcoin Market Analysis

Yesterday evening, under news that the US-Iran situation briefly eased, the price was pushed to around 77,700 and rebounded by about 1,000 points. Back then, I told the brothers that the key strong resistance above 78,000 on BTC had not been broken; just hold and keep KONGDAN, and if you can’t hold it, just follow along. As expected, later KONGDAN released with increased volume, the price broke below the previous low, and it retested 76,000. “Auntie” was slightly delayed—it only broke below 2080 in the early hours of today. After approaching the target level, I reminded the brothers again: if 76,000 breaks, then look further down; KONGDAN volume is shrinking—be sure to pay attention to the rebound and recovery. Of course, having your own ideas is a good thing. After all, with advice like this, if people are willing to refer to it, naturally they will take fewer detours.

On the Bitcoin daily timeframe, the candlesticks are almost right up against the lower band of the Bollinger Bands. If support at this level breaks with volume, then a downside movement of at least 2,000+ points should be opened up. It even implies that the overall structure will undergo a change, and a downward channel may be formed at the initial stage. Now on the 4-hour timeframe, the KONGDAN momentum has not fully released, and the KDJ is in a relatively low position—so it is possible to have an intraday rebound plan based on the KONGDAN idea. The key resistance level of 78,000 remains unchanged. For the short-term position, you can look around 77,500, while “Auntie” can be watched around 2160. For the subsequent not-single-direction approach, you don’t necessarily have to only look at a one-way market; you can first try to find the rhythm in the short term. Also, for every new breakdown, you can wait for stabilization before acting—this is absolutely fine. Sometimes, waiting patiently is not cowardice, but a more sensible choice.

Suggestions:
BTC KONGDAN in the 77100-77500 range; the target remains focused on a break of 76000, and if there is a volume surge, you can follow up at 75500;
“Auntie” KONGDAN in the 2140-2160 range; target 2050.
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