Bitcoin May 12 Trading Thoughts
Market Analysis:
Bitcoin has approached the top of the range consolidation. Last week's weekly close was strong, and there are no clear bearish reversal signals on the daily candlestick and various smaller time frames, indicating that the bulls are not done yet.
Continue to look for bullish movements upwards, and pay attention to breakouts or reversals when reaching the top. If it breaks out, it could rise to 140,000 - 170,000; if it starts to pull back, it could lead to a significant drop. Therefore, this week is very important!
Trading Plan:
1. Enter long after breaking the upper pressure area;
2. Enter short after a clear bearish signal is formed at the upper resistance level.
Important Reminder:
The upper resistance level for Bitcoin is the most important dividing line between bulls and bears in history. Traders will repeatedly induce buying and selling, continuously washing the market back and forth. Regardless of bullish or bearish, do not intervene too early!
$BTC $ETH $BNB
Market Analysis:
Bitcoin has approached the top of the range consolidation. Last week's weekly close was strong, and there are no clear bearish reversal signals on the daily candlestick and various smaller time frames, indicating that the bulls are not done yet.
Continue to look for bullish movements upwards, and pay attention to breakouts or reversals when reaching the top. If it breaks out, it could rise to 140,000 - 170,000; if it starts to pull back, it could lead to a significant drop. Therefore, this week is very important!
Trading Plan:
1. Enter long after breaking the upper pressure area;
2. Enter short after a clear bearish signal is formed at the upper resistance level.
Important Reminder:
The upper resistance level for Bitcoin is the most important dividing line between bulls and bears in history. Traders will repeatedly induce buying and selling, continuously washing the market back and forth. Regardless of bullish or bearish, do not intervene too early!
$BTC $ETH $BNB