Waves in the Cryptocurrency Sea: 5.14 Bitcoin (BTC) Market Analysis Reference:

The daily price level of Bitcoin is fluctuating near the middle line of the Bollinger Bands, and the overall upward channel has not been broken. The short-term moving average system shows a bullish arrangement, but there are signs of a weakening turn. In the MACD indicator, the fast and slow lines have crossed downward and diverged, with the histogram increasing, showing the embryonic form of a bearish signal; the KDJ indicator has crossed downward, and the J value has dropped into a low position; the RSI indicator has retreated to the neutral range, with bullish momentum clearly diminishing, caution is needed for a secondary pullback, with support to focus on the middle line of the Bollinger Bands and the EMA20 line, if broken, there is a risk of further decline.

In the short cycle, the price at the 4-hour level has slightly rebounded after touching the low point of 78755, with the Bollinger Bands opening downward and the middle line continuously suppressing the price. The MACD indicator is below the zero axis, and although the histogram slightly shrinks, the bearish momentum prevails; the KDJ indicator is in a low position, turning and merging but has not formed an effective golden cross, with rebound momentum being weak; the price is clearly suppressed by the EMA short and medium-term moving averages, and is currently in a weak recovery phase after the decline, with strong pressure above at the 80000-80500 range, if it cannot break through, it is very likely to continue a fluctuating downward trend. In the short term, it is viewed as a weak pressure pattern, with operations based on pressure points for going short at high levels, managing risks properly.

Waves in the Cryptocurrency Sea: 5.14 Bitcoin Short-term Reference:

Long position: buy in the range of 78000-79000, stop loss 500 points, target at 79500-80500,

Short position: sell in the range of 81500-80500, stop loss 500 points, target at 80000-79000,

【The above analysis and strategies are for reference only, please bear the risks yourself, the article may have delays in review and publication, strategies may lack timeliness, do not operate blindly】

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