[Market Analysis - May 16]
This series has not been updated continuously for a long time. The last time was on the 11th, "The shepherd pointed to the manure pit from a distance". Fortunately, Bitcoin still gave face and stopped at 60117 without further falling.
In terms of operation, from mid-April to the beginning of this month, a considerable amount of Bitcoin and Ethereum has been accumulated around 6w Bitcoin. These are all mentioned in the Mingpai post.
In addition, I was worried that the market would be chaotic after the data came out yesterday afternoon, so I sold 1/4 of Bitcoin for risk aversion. Now it seems that I was too narrow-minded.
Then let's talk about the current market.
The adjustment in the past two months can be a flag-shaped downward trend on the Bitcoin daily line, which is a bullish pattern.
If it is refined to the 4-hour level, it is the sexy channel in the figure below.
Yesterday's breakthrough of 6w4 is a very good signal. My observation points later are two:
1. Can it stand firm at 6w4 and no longer fall below it substantially?
2. Can it break through 66666 within three to five days and create a new high?
If these two points are met, then we can look forward to a new wave of market.
At present, the strength of the retracement is very weak, and the probability of the above two points being realized is relatively high.
As for the cottage, several popular cottages can be seen to resonate with the big cake, so as long as the cake goes up, the cottage market can also be expected.
