5.1 Bitcoin unexpectedly plunged! Can't the Hong Kong Stock Exchange hold up? Where will the bottom go?

Bitcoin market analysis:

BTC fell yesterday. The overall decline was still relatively large. It went directly through the daily level decline channel framework we suggested. So the bulls' upward force failed directly, and the price has fallen to around 56k.

When we analyzed it in the official account yesterday, we were bullish overall, because the price had rebounded from around 61,700 US dollars to around 64,000 US dollars, right? In the future, as long as there is a structural breakthrough, it can continue to be bullish. However, the price fell back to 62.5k and there was no sign of support, so there was no opportunity to enter the market.

However, for those who were long near 61,800 before, if they did not take profits in batches and did not make a moving stop loss, this decline would directly hit the stop loss, so it depends on how everyone operates, and the strategy provided to everyone will not be blown up by this round of decline.

According to the channel framework we drew on the daily line, it is actually close to the bottom, with a difference of less than 2,000 points, so it is no longer suitable to continue shorting. Either wait for a rebound, or the price continues to fall to 55k56k. We pay attention to the hourly bull resistance and choose to go long.

Although the market is unlikely to reverse, if the price rises back above 59500, this decline may be a false signal, and then we will directly arrange to go long.

However, when it rebounded near 59500, a short signal appeared, indicating that the rebound received resistance. The previous consolidation support above the daily line has been converted into resistance, and the decline is relatively clear. Partners who want to go short can try to go short.

This is today's strategy. The content is for reference only. Pay attention to investment risks!

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