5.27 Morning Bitcoin Market Analysis

Yesterday's market again gave a false signal first, then pushed higher, I don't know how many brothers chased the top, very unfortunate. Brothers who followed the trend and held on should have taken off, the defensive position has also been given to everyone, and the target position has been reached, just missing the action themselves. I also told everyone again in the early morning, as long as Bitcoin didn't break below 76,000, it wouldn't continue to look lower, most likely it will move sideways and consolidate at lower levels. Actually, now the risk of bottom-fishing in this market is quite high because the US-Iran situation is very unstable, market sentiment is mostly panic, and the decline could continue at any time. Short-term trading is possible, but don't hold for too long.

Currently, Bitcoin on the daily chart is gradually forming a downward channel, so the overall direction is clearer now, just continue to look for consolidation. In the early morning, Bitcoin hit a recent low of 75,641, briefly stopped falling, and moved sideways at low levels for consolidation. On the 4-hour chart, the K-line shows a decreasing volume of downward decline, with a death cross below the zero line on the MACD, and the momentum of the bulls is continuing to strengthen. However, the J-line on the KDJ indicator has entered an extremely oversold zone, so there may be a technical correction in the short term, but the K-line structure has not yet shown a sign of stopping the decline. In the short term, the market still favors consolidation, but oversold conditions could trigger a weak rebound. Resistance above is at 76,500-77,000, support below is at 75,500-75,300. Currently, it is not advisable to chase the rebound; wait for technical correction, and after a rebound to the resistance level, pause and then look for a drop to 75,000. The "mistress" (short for a secondary target or a specific trading position) looks at resistance at 2,090-2,110, and for consolidation, support is at #特朗普支持CFTC管辖预测市场 2,050 if broken.