5.23 Afternoon Market Outlook


$BTC Perfectly executed short positions in the wave pattern, previously laid out short positions at 77,300 in advance, targeting directly at 75,000. This morning, the market directly dipped to 75,100, and we calmly exited at 75,300, securing a 2,000-point profit.
Most people in the market only focus on the immediate ups and downs, chasing gains and selling losses, being led by short-term fluctuations.
Those who truly understand the market rely not on luck, but on a broad perspective and precise predictions.
We locked in the bearish trend early, ignoring the false signals of a rally, and held firmly until the target zone, always staying ahead of the market.

From the four-hour chart, after Bitcoin surged to 78,180, the bullish momentum was completely exhausted, forming a clear double-top bearish structure.
A series of large bearish candles with high volume led to a decline, support levels were consecutively broken, and the overall downtrend was confirmed.
Currently, after touching the low of 75,184 and slightly stabilizing, this is only a technical weak correction during the decline.
Short-term rebounds are more likely to be traps for late buyers.
The long-term bearish pattern remains unchanged, and the subsequent market is likely to continue its weak trend.

Saturday afternoon Bitcoin trading suggestion: Short near 75,500-76,000, target down to 74,000
Ethereum trading suggestion: Short near 2,070-2,090, target down to 2,030
BTC0.39%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned