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5.20 Wednesday, the double bottom structure is gradually being confirmed, the neckline breakthrough is imminent, and upward movement can be expected in the future.

CN
沐长青翻仓大师
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1 hour ago
AI summarizes in 5 seconds.

Bitcoin's overall fluctuation was very weak yesterday, moving up and down around a thousand points, with suitable opportunities for both bulls and bears. Yesterday, a bullish position was arranged around 76200, just touching the bottom for a rebound, then rising a thousand points with a short-term victory before exiting.

The daily candlestick level has seen six consecutive bearish candles, now testing the lower rail. If this position holds, it may form a bottom support, so near the support level, the first choice is still to maintain a bullish outlook on the pullback.

On the four-hour level, the Bollinger Bands are opening downward, and the price has been maintaining operation in the lower-middle band range for the past two days. The previous bottom at 74900 is a double bottom support, and now there is not much space below. Even if there is a pullback, the space is limited, making the current bullish trend more favorable.

Therefore, on a daily basis, a pullback to around 76000-75500 continues to look bullish, with the target aimed at around 78500, with the points for reference only.

Follow the public account, where worries are resolved only by Jiang Wei, a treasure analysis blogger full of emotional value. Trading education is shared for free, bringing stability and clear guidance in the turbulent trading market, traversing through three cycles of bull and bear markets, with years of practical trading experience. Proficient in naked K, trend, Dow theory, Gann, harmonic, Chan theory, wave theory, and other technical analysis, gathered into unique personal insights.

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Selected Articles by 沐长青翻仓大师

1 day ago
On Tuesday, May 19, Bitcoin confirmed strong support at 76,000, entering a period of consolidation.
2 days ago
Weekly structure repair, support level has been reached, BTC is clearly bullish in the medium to long term.
4 days ago
On Saturday, Bitcoin retraced and established a base yesterday. Will the market reach new heights next week?
View More

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