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🐳 BTC Update May 1, 2024
In this article we will update the main direction in May. Previously, Trading Insight continuously updated that the BTC situation was very bad and today we saw BTC priced at $57,346.
👉 BTC closed the Monthly candle, in 2 years from May 2022 closed the monthly candle with a total of $13,000 BTC at the end and April 2024 repeated.
👉 This is a bad signal when psychological support zones are broken and all liquidity is taken away. The noted zone at 56,200-56,600 is the largest liquidity zone at the moment with a total of $56,200-63,000, more than $8 billion has been completely liquidated.
👉 Currently, if we rely on support and indexes, the $50,200-51,000 area is definitely the area we need to wait for BTC. But the market was affected by bad news from Binance's former CEO CZ + The Sell In May effect led to continuous short selling in the market.
👉 The current 55-57k rhythm will be the short-term recovery rhythm that I expect, I have also started adding more money to Altcoin.
👉 Like previous analysis, this is just a real adjustment of the market. $50,000 or $56,000 is also the mark we expect. Take advantage of following the market to trade for profit.
👉 This May, the main trend is expected to be a downward trend. But the amplitude will be shorter and return to green next week. The market is not really meant to collapse. May-October is the time we collect goods, do you remember Trading Insight's advice 🚀
Short-term specific view, I will update tomorrow. Is your account still okay?
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BTC is actually worse than I expected. The previous article updated the short and long-term trend. But the BTC day candle is almost ready for a continuous sharp decline.
👉 BTC has no recovery rhythm that can break small psychological zones, the current recovery momentum is absent.
👉 Pressure from war, pressure from selling off the market when it had previously had record growth. There has been a short-term correction, but in general, the overall correction has not yet begun.
👉 It's not difficult for BTC to fall below 60,000 now. 50,400 and 56,200 are two milestones that I want you to pay attention to when BTC really falls.
👉 Daily candles and models are pointing towards BTC decreasing. The current buying volume is not increasing strongly and cannot change the trend. Unless there is special news or really affects the entire cryptocurrency market. New can help it refill.
Please be careful, this is a true warning article for BTC and the entire market. Very bad….
This is not investment advice, it is an article from a personal perspective sent to you. You can refer to them to make a decision