Thursday, May 14

Bitcoin experienced a relatively good sharp decline in the first round of May yesterday. Once again, after a pullback, we did not gain much. As we all know, my recent focus has been on a bullish outlook based on the pullbacks. Including yesterday, I was bullish around 79,600. I still hold it in my hands.

Yesterday, it dipped to 78,700 but did not break, and the overnight market trend rebounded, recovering some of the pullback space. From this, it can be seen that the momentum is still very strong. On the four-hour level, the candlestick yesterday dropped to a previous pressure-testing support level and then stopped falling. So as long as it does not continue to drop further today, an upward move or even a breakout is just a matter of time.

Because this wave of pullback may just be to build a base, waiting for the lower moving averages to support the price to go up. So regarding the current trend situation, I am still very inclined towards a bullish trend, holding on to the positions that should be held from before.

If you are in cash, you can wait for a pullback to the 79,200-78,800 area to enter bullish positions in batches, with the target first looking at breaking through 80,700 and then aiming for the 82,000 mark.

Follow the public account, how to relieve worries, only Jiang Wei. A treasure analysis blogger full of emotional value; sharing trading education for free, bringing stability and clear guidance in a restless trading market, navigating through three rounds of bull and bear markets and years of trading experience, specializing in bare K, trends, Dow Theory, Gann, Harmonics, Chan Theory, Elliott Wave Theory, and other technical analyses, merging into unique personal insights.

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