Master's Hot Topic Discussion:
The May Day holiday is temporarily over. Let's first review the analysis from Master's article on April 30th, which clearly stated that a market pull-up must happen before May 4th. As expected, the market surged upward.
However, from May 4th to the evening of May 5th, as the holiday was about to end, the main forces started their sneaky market-smashing operation. Since early morning, BTC was directly hit to around 93.4k. This is a typical pump and dump - first giving you a sweet candy, then slapping those blindly going long!
What now? Reviewing what Master said on April 30th, the main forces will likely restrain themselves in the next couple of days. Meanwhile, everyone should keep an eye on the Federal Reserve meeting on May 8th. Whenever the Americans make a move, BTC will first be pulled up and then smashed down - such a script is common during holidays.
This raises a question: where is the top of this bullish trend? Some call 105k, some 110k, others 135k. After carefully examining the market, Master believes it can at most reach around 105k, achievable in as fast as 3 weeks.
Don't believe those calling for higher BTC prices. From the market perspective, there's absolutely no such indication. It's not too late to change strategies if the market shifts in 2-3 weeks. Don't be confused by internet hype.
On the way to 105k, there will definitely be pullbacks and pin bars, mostly within 12-hour levels. In plain terms, it might drop to between 95k and 92.7k, but if it breaks below the 92.7k 12-hour support, it's basically game over, with the trend directly flipping to short.
105k is just a dream. Having rebounded from 74.6k, it has already risen over 23,000 points. If 105k is truly the top of this rebound, the short-term bottom for pullback would be around 86.2k.
Therefore, medium-term players can wait to go light short above 104.6k. If the main forces insert a pin and smash downwards, with market cooperation, they could potentially earn 12,000 to 18,000 points.
Master's Trend Analysis:
Resistance Levels Reference:
First Resistance: 95200
Second Resistance: 94300
Support Levels Reference:
First Support: 93500
Second Support: 92800
Today's Recommendation:
From technical indicators, Bitcoin has entered a long consolidation period after rising. Currently returning to this consolidation zone, the day's suggestion is to focus on the critical support zone between 92k and 93k.
If the price can break through the first resistance at 943k and form an N-type upward pattern breaking the downward trend line, it will be a rebound signal. Only by breaking the downtrend line will the trend reversal probability increase.
Therefore, if a rebound occurs, it's recommended to observe trading volume near the second resistance of 95.2k, and operate with a small-scale adjustment strategy. In the short term, the first support at 93.5k is the 4-hour K-line's previous low point, with the price maintaining this zone at least five times during consolidation.
Thus, if the price breaks below this zone, increased disappointing sell-offs will further increase downward probability. The current maximum downside is around 92.8k. If breaking the first support, the probability of an N-type downward pattern increases.
Due to the strengthening of the short trend, the day's recommendation is to choose ultra-short-term operations during rebounds. If price rises without trading volume, it should be approached with a short perspective.
5.5 Master's Swing Positioning:
Long Entry Reference: Currently not recommended
Short Entry Reference: 95200-95800 zone with light position short, Target: 94300-93500
This content is exclusively planned and published by Master Chen (Public Account: Coin God Master Chen). For more real-time investment strategies, exit strategies, spot, short, medium, and long-term contract trading methods, operational techniques, and K-line knowledge, you can join Master Chen's learning exchange group, which now offers free fan experience groups and community live streaming!
Warm Reminder: Only the column public account (shown above) is written by Master Chen. Any advertisements at the end of the article or in the comments are unrelated to the author! Please be cautious in distinguishing authenticity, and thank you for reading.
