Master Chen 5.22: Analysis of key trends at the $70,000 mark Short-term support and resistance trading points $BTC $ETH #BTC突破7万大关 #以太坊ETF批准预期 #BTC #比特币走势分析

BTC1 hour:

Bitcoin is currently consolidating around $70,000 after a short-term rapid rise, and the recent rise is affected by factors such as the improvement of the macro environment, the inflow of funds from Bitcoin ETFs, and the optimism of Ethereum ETFs.

Although there has been a sharp rise due to the influence of Ethereum, the market has also increased the possibility of approval. However, there is no official official news yet, so it is expected that the market will remain on the sidelines before the 23rd.

Even in the case of consolidation, it is necessary to pay attention to whether Bitcoin will fall below the low point and conduct chart analysis accordingly.

The first resistance is at $70,250 and the second resistance is at $70,800. When the price breaks through the first resistance, Master will continue to maintain the view of rising and look forward to testing 71,000 again.

Because the current resistance is the previous low point of consolidation after the rise, there may also be adjustments near the second resistance level.

The first support level is $69,300, and the second support level is $68,700. If the price falls below the first support, the master believes that there is a possibility of further decline. Since there is no major negative news in the market, the sharp drop can be regarded as an opportunity to enter the market and do more.

In addition, the master suggests that short-term trading within the day can be managed according to the short-term rising trend line. In today's trading: The medium- and long-term view is still bullish, but due to the increase in the downward view in the short-term chart, short positions can be considered when there is no volume rebound.

At the current stage, the rising trend line in the figure can be used as a short-term reference. The master's view of a short-term correction before breaking through the first resistance level.

Please refer to these suggestions when trading

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

Long entry reference: 68300-68700 range, long in batches, defense 500 points, target 69300-70000

Short entry reference: 70400-70800 range, short in batches, defense 500 points, target 69300-68700

The content of this article is exclusively planned and released by Master Chen (public account: Master Chen, the God of Currency). If you need to know more about real-time investment strategies, unwinding, spot contract trading methods, operating skills, and K-line knowledge, you can add Master Chen to learn and communicate. I hope it can help you find what you want in the currency circle.Focusing on BTC, ETH and altcoin spot contracts for many years, there is no 100% method, only 100% following the trend; daily update of macro analysis articles, technical indicator analysis of mainstream coins and altcoins, and spot mid- and long-term review price forecast videos.

Warm reminder: Only the column public account (pictured above) in this article is written by Master Chen, and other advertisements at the end of the article and in the comment area have nothing to do with the author! ! Please carefully distinguish the true from the false, thank you for reading.