5.23 Morning Market Outlook

Yesterday afternoon, the market trend was relatively weak, so I proactively opened a short position, decisively entering at 77,300. The target for this position is around the 75,000 level. The subsequent market movement fully aligned with expectations; prices declined as anticipated under pressure. Considering the volatility rhythm and risk management, I chose to take profits early at 75,300, successfully capturing a 2,000-point profit margin. Actually, in yesterday’s summary and analysis, I had already clearly warned everyone that once the price effectively breaks below the key support level, the bearish momentum will further accelerate, and the market is likely to speed up its decline. At that point, probing the 75,000 area would be a natural development. This market movement perfectly confirmed the previous forecast, and following the trend is the only way to confidently grasp the rhythm.

$BTC From the 4-hour chart perspective, after oscillating at high levels, the bearish force was concentrated and released, with the chart consecutively forming full-bodied large bearish candles. The downtrend was fully established, with each minor rebound met with resistance and falling back. Support levels below were repeatedly broken, presenting a clear ladder-like downward structure. The short-term bearish trend dominates completely, and with subsequent rebounds weakening, the downward space may further expand. The 1-hour cycle shows an even more intuitive weakness, with the overall market operating within a standard downtrend channel. Each rebound is very weak, and after a brief minor correction, it is quickly suppressed by large bearish candles, resetting lows. Signs of resistance during short-term rebounds are obvious, and the short cycle fully follows the bearish rhythm of the larger cycle, with the downtrend showing strong continuity.

Saturday morning Bitcoin trading suggestions: Short near 75,500-76,000, target down to 74,000
Altcoin trading suggestions: Short near 2,070-2,090, target down to 2,030