Master Discusses Hot Topics:

The May Day holiday has come to an end, so let's review the analysis from Master on April 30. The article clearly stated that the market must rally before May 4. Sure enough, the market surged upwards.

However, from the night of May 4 to May 5, as the holiday was nearing its end, the main forces began to execute sneaky operations to crash the market. Since early this morning, Bitcoin has been driven down to around 93.4k. This is a typical case of raising the price to sell off, first giving you a piece of candy, then slapping you in the face for blindly chasing the rise!

So what now? Looking back at what Master said on April 30, the main forces are likely to consolidate in the next couple of days. Everyone should keep an eye on the Federal Reserve meeting on May 8; if the Americans casually make a move, Bitcoin will first rise and then crash. This kind of script has become quite common during the holiday.

Now, the question arises: where is the peak of this bullish trend? Some are calling for 105k, others for 110k, and some even say 135k. Let's take a serious look at the market; Master believes it can reach a maximum of around 105k, possibly within three weeks.

Don't believe those calling for higher Bitcoin prices; at least from the market perspective, there are no signs of that. If the market changes direction in 2 to 3 weeks, it won't be too late to adjust strategies. Don't get confused by the internet hype.

On the way to 105k, there will definitely be short-term pullbacks and spikes, mostly within a 12-hour timeframe. In plain terms, it could drop to between 95k and 92.7k, but if it breaks below the 92.7k support in that 12-hour timeframe, it would be basically over, and the trend would turn bearish.

Reaching 105k would be a dream; it has already rebounded over 23,000 points from 74.6k. If 105k is indeed the peak of this rebound, then the short-term bottom for the pullback would be around 86.2k.

Therefore, medium-term players can wait to short in batches above 104.6k. If the main forces push down after a spike, under favorable market conditions, it could yield 12,000 to 18,000 points.

Master Looks at Trends:

Resistance Levels Reference:

First Resistance Level: 95200

Second Resistance Level: 94300

Support Levels Reference:

First Support Level: 93500

Second Support Level: 92800

Today's Suggestions:

From a technical indicator perspective, Bitcoin has entered a long period of consolidation after experiencing a rise. It has now returned to this consolidation range, and it is recommended to pay attention to the important support range between 92k and 93k during the day.

If the price can break through the first resistance at 943k and form an N-shaped upward pattern to break the downward trend line, it would signal a rebound. Only by breaking the downward trend line will the probability of a trend reversal increase.

Therefore, if a rebound occurs, it is advisable to observe the trading volume changes near the second resistance at 95.2k and operate with a small-scale adjustment strategy. In the short term, the first support at 93.5k is the previous low point on the 4-hour candlestick chart, and the price has held this range at least five times during consolidation.

Thus, if the price falls below this range, the probability of further declines will increase due to disappointment selling. The maximum downside space is around 92.8k. If the first support is broken, the probability of an N-shaped downward pattern will be greater.

Due to the strengthening of the bearish trend, it is recommended to choose ultra-short-term operations during rebounds. If the price rises without trading volume, it should be operated with a bearish perspective.

5.5 Master’s Wave Strategy:

Long Entry Reference: Not currently applicable

Short Entry Reference: Light short in the 95200-95800 range, Target: 94300-93500

This article is exclusively planned and published by Master Chen (WeChat public account: Coin God Master Chen). Master Chen is the same name across the internet. For more real-time investment strategies, solutions, spot trading, short, medium, and long-term contract trading techniques, operational skills, and knowledge about candlesticks, you can join Master Chen for learning and communication. A free experience group for fans has been opened, along with community live broadcasts and other quality experience projects!

Warm reminder: This article is only written by Master Chen on the official account (as shown above), and any other advertisements at the end of the article or in the comments are unrelated to the author!! Please be cautious in distinguishing between true and false, thank you for reading.

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