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5.12 Morning BTC Market Analysis
On Monday, BTC rose to 105000 and then stopped, currently experiencing high-level fluctuations. The previous bullish outlook yielded considerable gains, but the current upward movement is encountering resistance, and the market sentiment may reverse, suggesting a cautious approach in the short term.
From the daily perspective, the overall bias is bullish but there is pressure at high levels. The bullish momentum will be exhausted, and after the previous rise, be cautious of a pullback in the short term; do not blindly chase after the rise.
On the 4-hour level, the price is oscillating at a high position, the Bollinger Bands are narrowing, and the momentum is weakening, making it difficult for the upward movement to continue.
Specific Suggestions:
BTC 104500 - 105000, target 102000 - 101000.
Target range for the state 2520 - 2550 is 2400 - 2300.