May 22nd, Friday Morning Analysis


Good morning everyone, I am Yifan. Once again, it's Friday, and yesterday BTC was very strong. Based on Yifan's analysis, it reached around 78,000. Yifan and fans Xueyuan also achieved the desired results. So today, let's keep up the effort.
In simple terms, today's market is currently in a phase of oscillation and correction after a downward trend for BTC.
The price has been steadily falling from the high of 82,460, with a low of 76,014 before stabilizing.
Currently, it is trading sideways in the 77,000-78,000 range, and no definitive signs of a medium-term reversal have formed.
- The 7-day moving average and the 30-day moving average are about to form a golden cross, which is an initial signal of a short-term trend turning stronger, but it is still constrained by the previous downtrend line above, and the sustainability of the rebound remains to be verified.
- The 30-day moving average is still in a downward state, and the medium-term downtrend has not been fully reversed. The current rebound is more of a technical correction within the downtrend.
Yifan's current personal suggestion: around 78,200-78,800, with targets near 76,800-76,000.
BTC-0.42%
ETH-0.34%
ZEC-2.6%
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