Zhang Lihui edited on May 7 at 1:57 AM Beijing time: Today's Bitcoin market analysis and trading suggestions:
This Labor Day was indeed terrible; I was hit by the flu and have not fully recovered since the 2nd, which has delayed my article updates. Fortunately, before the holiday, my real account followers managed to follow the trades and profit. I also took the opportunity to rest for a few days. Recently, the most frequently asked question from fans is whether Bitcoin can directly reach 100,000 or 120,000. I think that’s just a joke. Some people see a rebound and mindlessly shout for a rise; isn’t that purely harmful? Bitcoin hasn’t even stabilized above the weekly upper band, so how can it challenge 100,000? On the 3rd, I updated in the Pionex circle at the 96,600 position not to chase high positions. The 4-hour death cross has already formed, and it is unwise to still be bullish. If you followed the trades, you could have already reduced your position and taken some profits after a 3,000-point move.
Now, on the daily level, Bitcoin has also reached a critical position because the death cross has formed, and there has been successful volume below the zero axis. It depends on whether the daily close can stabilize the death cross pattern. The Bollinger Bands are currently maintaining the usual trend, and we need to pay attention to whether the lower band can support again at the position parallel to April 30. If this position cannot hold, we will face another major downturn!
Currently, the K-line is under pressure between the daily middle band and the 4-hour upper band. Therefore, for a short-term rebound, we can pay attention to entering lightly near yesterday's high point, which is the 4-hour MA60 and MA30 range. The fast and slow lines on the 4-hour level are converging, and I believe this round of convergence will face failure again. Recently, major institutions have been frequently buying, and this method of pulling up and unloading is really common! It is very easy to suffer losses by being bullish in the short term. I believe there will be a deep sell-off before a significant rebound occurs. Now, it only takes a reason and an opportunity to trigger the sell-off! In the short term, I will still consider a rebound short strategy for positioning!
Suggested short entry points: 95,000-95,500; stop loss at 95,800; targets at 94,300-93,600-93,100. If it breaks below 93,000-92,800, you can continue to hold until around 91,500; if the stop loss is hit, you can consult me to adjust the entry price!
Suggested long entry points: Pay attention to the strength of support at the 93,000 level before deciding on entry opportunities. Specifically, it depends on the downward momentum and the fast-slow lines! You can consult me for positioning based on real-time market changes!
The specific entry opportunities for the above points should be based on my real-time notifications! There may be delays in article review and push; the market changes rapidly, and specific entry opportunities must be combined with actual operations, so please rely on real-time notifications. The suggested points in the article are for reference only; do not operate with heavy positions. Please set stop-loss and take-profit levels when entering, and take profits when you see good results! The article is not easy to produce, and I share it for free with my fans. Thank you for your likes and shares!
I, Lihui, interpret world economic news and analyze global cryptocurrency trends. During my studies in the U.S., I conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other cryptocurrencies. I welcome comments and messages from those who are not familiar with trading!
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This article is exclusively published by (WeChat Official Account: Zhang Lihui) for reference only; risk is borne by the reader. May we remain humble and brave in the complex cryptocurrency world, unafraid of challenges and willing to explore. Just as "The road is long and has no ending; yet high and low I'll search with my will unbending," I hope we keep pace with the times, absorb wisdom, travel thousands of miles, weather storms, and gain insights into life.
May you, under my guidance, leverage your strengths and avoid weaknesses, create value, and remember the market's baptism, staying true to your original intention. In the wave of digital currency, may we hold onto our beliefs, forge ahead, and jointly compose a brilliant future, sharing the joy of success. Let us work hand in hand to create brilliance in this investment journey full of challenges and opportunities!
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