Master's Hot Topic Discussion:
With last night's US stock market rising, BTC suddenly dropped below 101k in the early morning. This pullback actually made some leverage enthusiasts shout about a crash, yelling 91K, 83K, even Ethereum was pressed back to 1800, 1000. What kind of vision is this? Is this small fluctuation enough to be doomed? Are they clearing retail investors' balances?
First, market liquidity is not a problem at all, bulls are still persisting, and the weekly golden cross is right there! If it were to crash as they say, why is the golden cross still present? This is just a normal wash-out, and the trend is not over. Don't be scared away by those noisy short sellers, a loud voice doesn't mean they have substance.
Looking at the macro perspective, the Federal Reserve is printing money again, QE is open again, potential rate cut in June and July, with a large amount of US debt expiring at the end of June. Do you think the Americans would suddenly stab the market? Wake up, the funding environment remains loose, and after this wash-out, there will still be opportunities to get on board.
As for the target, the master still sees new highs. Yesterday, BTC rushed to 106K, less than 4% from the historical high point. The previous trapped chips are almost cleared, and after this wash-out, new highs are certain. First targeting 110k!
In the short term, the bulls' liquidity has not reached the clearing threshold. With no momentum up or down, it can't make a big surge, and can only oscillate in the 106k to 106.6k range. After oscillating and accumulating enough, another surge will come.
Honestly, this slight decline doesn't even show a bear market's shadow. Who runs at the first sign of a drop? Veterans who navigated through 2017 to 2019 know this!
Want to quit without weathering the storm? Heh! Real market veterans are waiting for the breakout. Naive newcomers will only be swept away by the waves. Don't blindly follow the trend, seize the opportunity when it comes. Learn from experience, the turning point hasn't arrived yet, those who understand the market can see it clearly!
Master's Trend Analysis:
Resistance Levels Reference:
First Resistance: 104000
Second Resistance: 102800
Support Levels Reference:
First Support: 101500
Second Support: 100600
Today's Recommendation:
From the April low point, Bitcoin has rebounded over 40%, and a pullback at high levels is inevitable. Currently, the price is hovering around 102.3K, with bulls and bears repeatedly wrestling at this point.
If the price breaks through and stabilizes above the first resistance of 102.8K during the day, the short-term rebound may continue, further testing 104k. If Bitcoin stabilizes above the second resistance of 102.8K, pay attention to selling pressure near this level.
If the price drops below the first support of 101.5k, be cautious of an N-shaped downward trend, with the next focus point around 100k, which is also the 200-day moving average.
If it breaks below the second support of 100600, this area will become a testing point for the price. Currently, short-term bulls and bears will frequently alternate. If the price falls back near 104K, it may find support around 101K, presenting an overall box oscillation pattern.
5.13 Master's Swing Trading Preparation:
Long Entry Reference: 100600-101500 range, batch entry, Target: 102800-104000
Short Entry Reference: 103200-104000 range, batch entry, Target: 101500-100600
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