Coin Circle Liying: 5.17 Bitcoin (BTC) Latest Market Analysis and Operating Suggestions
Article published on 2026.5.17——00:30
Family! The current price of Bitcoin before the release is 78200, now it is at a very critical crossroads, with the price stuck around 78200. Looking at the 2-hour candlestick chart, after the previous sharp drop, it seems that the bears are a bit exhausted, but the bulls have not dared to launch a large-scale attack, and now it is a typical bottom grinding stage. The current market is like the calm after a storm, everyone is watching the EMA30 moving average, which is like a ceiling above. If it can break through, it will take off; if not, it may still have to squat down a bit more. For us retail investors, don't rush to go all in, patiently waiting for signals is more important than anything.
On the technical indicators, the moving average system shows a bearish arrangement, with the price running below EMA7, EMA30, and EMA120, indicating that the medium-term trend remains weak, and the area of 79300-79500 constitutes a strong resistance zone. Although the MACD indicator is still below the zero axis, the fast and slow lines have shown signs of turning upwards, and the green bars are beginning to shorten, suggesting that the bearish momentum is weakening, with the possibility of bullish divergence. The Bollinger Bands are opening downwards, with the lower band around 77300 and the middle band around 79200, the price has rebounded after touching the lower band, indicating that there is strong short-term support in the range of 77000-77300.
Short-term reference:
For a long position at 77800-77300, exit if it falls below 77000, target above 79500 aiming for 80200
For a short position at 79500-80000, exit if it breaks below 80400, target below 78500 aiming for 78000
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The article content is time-sensitive, for reference only, risk is borne by yourself.
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