5.8 Where will Bitcoin fall? Is the long position structure healthy? Can we go long at low positions?

Bitcoin market analysis:

After we analyzed the failure of the high point of 65.6k in the video yesterday, BTC showed the structure of the Evening Star. Then the previous high of 64.5k will form resistance again. If this resistance is verified to be effective again, BTC will have a further downward correction. So where will the decline go today? Can we go long at low positions?

We analyze it in combination with the strength of the liquidation map. At present, BTC longs still have a liquidation strength of about 190 million near 61k, so the longs have not completed the complete liquidation, and there is still room for decline. When the price reaches 61k, pay attention to the long signal.

Compared with the liquidation strength of the longs, the shorts have nearly 500 million fuel, so even if there is still room for the market to fall, it will not be too large. After completing the long liquidation, the shorts will be hunted down next, so going long at low positions can be considered.

Then at the 1-hour level, you can refer to the channel framework. If you build a flag-shaped adjustment, then around 60,000 to 61,000 is the time to go long. As long as it is not a large-volume downhill, you can consider going long here.

If you miss the opportunity to enter the market at a low level, you can also consider entering the market when the flag-shaped breakthrough occurs. There is sufficient short-selling fuel above. After the market recovers 63k, you can consider going long when it stabilizes.

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

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