May 20th BTC early trading market analysis and strategy!
The new week passes quietly, good morning everyone! Looking back last week, the price began to change from the bottom near the 60800 line, and the trend also ushered in a reversal. As of now, the room for bulls to move out in the follow-up time last week has reached 7000 points.
At the current daily level, after falling back to test around 60,000, there is no downward breakthrough and continuation, but a trend of easing all the way. Yesterday evening, the price continued to reach a high of 67750, failing to continue to break through, and fell back nearly 2,000 points under pressure. It is now at the upper track suppression point, the daily closing shadow line has paused and consolidated, and the bulls are still showing signs of continuing to rise.
In the short term, the correction will end after a certain period of time, and the rhythm will also slowly fluctuate upward. Even if there is a retracement, it will be slowly recovered. Although Bollinger Bands briefly fell below the middle track, the support subsequently moved to the lower track. However, in the strong rhythm, if the support cannot be broken after stepping back, it is still expected that the bulls will continue to break through.
Morning action suggestions:
Bitcoin: In the short term, the 65500-60000 area is more likely to fall back. The target is 66800-67500. Ether can resonate at the same frequency!
