Master's Hot Topic Discussion:
BTC remains tough, reaching a high of around 104,244 in the early morning, fulfilling yesterday's article title "BTC breaks through 100k and aims for 105k!" Meanwhile, the US stock market is even more aggressive, with market sentiment changing in just one day.
The May monetary policy meeting has long lost its impact. The market now focuses entirely on trade negotiation progress and economic data trends, especially trade negotiations. The old wall lamp (Trump) is quick to act, hinting on the 8th that the first trade agreement will be announced, directly causing a market shift!
I believe some people must be stunned by this wave of rise. Recalling what I wrote at the beginning of the year, the most significant market influences this year are: Trump's policy > economic trends > Federal Reserve monetary policy.
To put it elegantly, Trump's policy is the independent variable, while the latter two are dependent variables following his lead. The market previously plummeted due to his uncertain actions, and now he's desperately making up for it, so the rise is naturally unsurprising.
As everyone knows, this old wall lamp's biggest characteristic is extreme erratic and contradictory behavior, but overcorrection is indeed extreme. The core logic is simply this brutal!
Back to BTC, this massive rise has essentially eliminated the possibility of further breaking new lows. Those looking to buy at lower prices should wipe their drool and adjust expectations. Want to know if buying the dips is easy now? Look at price, pattern, and technical indicators.
If it could reach a price around 80k, Master would find it incredibly attractive. Don't argue with me; I'm not saying it will definitely happen. Even if it does, it'll involve grinding at the top, pulling, dropping, rebounding, and dropping again.
So the adjustment of this main upward wave is still missing the final stroke. Only after this drop can we fully engage in a medium to long-term long position! Of course, the market is always right. If it directly breaks the previous high and continues upward, that's a different story, and we can only adapt accordingly.
This rise has completely cleared out the liquidity of short positions at 103k and even 104k. Master sees those holding onto short positions becoming liquidity.
Looking at the current situation, the short-side liquidity above the price is now just remnants around 105k and 106k. Beyond that is a completely empty liquidity gap. So at least this week, don't expect to break through 106k.
Master's Trend Analysis:
Resistance Levels Reference:
First Resistance: 104,200
Second Resistance: 103,300
Support Levels Reference:
First Support: 101,500
Second Support: 100,700
Today's Recommendation:
Currently, the coin price shows a stepped increase on the 15-minute level, so the consolidation area after price rise can be viewed as short-term support. Maintain a bullish rebound perspective for the day.
If the price closes at the first resistance of 103.3K and successfully breaks this level, further rise can be expected. If accompanied by increased trading volume and volatility in the short term, with price quickly breaking upper resistance, the bullish trend will likely continue.
If adjustment occurs before breakthrough, pay attention to lower support levels and wait for resistance level breakthrough after adjustment ends. The first support level is a short-term support and a suitable entry point for ultra-short-term trades, while observing the coin price trend within the convergence range.
If price adjusts, focus on the upward trend line of the lower convergence range, and set the 60-day moving average and previous high point of 101.5K as short-term critical support levels.
5.9 Master's Swing Trading Preparation:
Long Entry Reference: 100,700-101,500 range, batch long. Target: 103,300-104,200
Short Entry Reference: Not recommended currently
This content is exclusively planned and published by Master Chen (Public Account: Coin God Master Chen). Master Chen has the same name across all platforms. To learn more about real-time investment strategies, exit strategies, spot trading, short, medium, and long-term contract trading methods, operational techniques, and candlestick knowledge, you can join Master Chen's learning exchange group. Free fan experience group and community live streaming are now open!
Friendly Reminder: Only the column public account (shown above) is written by Master Chen. Advertisements at the end of the article and in the comments are unrelated to the author! Please be cautious in distinguishing authenticity. Thank you for reading.
