Master Chen 5.13: The rising channel is formed, and the risk of another decline cannot be ruled out #BTC走势分析 #比特币走势分析 #5月市场关键事件

BTC 4 hours:

Bitcoin has experienced a small rebound and formed a short-term rising channel. Although the expectation of interest rate cuts has weakened, Bitcoin can still maintain support near 61,000.

However, since there has been no significant rebound after a sharp decline, Master Chen believes that the risk of decline cannot be ruled out in the near future. For the short-term market, if the price breaks through the upper edge of the rising channel, Master Chen will maintain the view of a short-term rebound.

If the price falls below the lower edge of the rising channel, a bear flag pattern may be formed, so Master Chen will turn to a bearish mindset.

The first pressure level during the day is 61,800, and the second pressure level is 62,200. For the short-term trend, we need to pay attention to the 20-day moving average and the resistance near 61,500. Master Chen expects the market to fluctuate repeatedly in the rising channel.

Therefore, we can adopt a short-selling strategy in the pressure range, with the first support at 61130 and the second support at 60600. When the price is near the first support, it is expected to rebound in the short term, but everyone needs to pay attention to the psychological support of 61000.

If the price falls below 61000, then Bitcoin will fall below the lower edge of the short-term rising channel, and the short-selling trend will be strengthened again.

Therefore, today, you can observe the fluctuations of the K-line price in the rising channel and flexibly adjust your position. Since the price in the short term is still maintained in the rising channel, you can temporarily maintain a bullish mindset. If it falls below the lower edge of the channel, the master will turn to a bearish mindset.

Please refer to these suggestions when trading

5.13 Master's short-term pre-buried orders:

Long entry reference: 60900-61200 range, long in batches, defense 500 points, target 61800-62200

Short entry reference: 61800-62100 range, short in batches, defense 500 points, target 61000-60600

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