BTC Market Analysis May 12

The price of the big cake was very exciting last night, but the highest point of the price was near the pressure level given by Fengjian. The current price has recovered to the 61000 range, so the daily line continues to pay attention to the pressure level of 61500. In the short-term 4-hour, the price fluctuated upward in the boll down channel. The kdj indicator formed a golden cross trend, the macd indicator short volume further closed, the fast and slow lines ran smoothly below the 0 axis, and the short trend began to be frustrated. Therefore, there was an upward test in the four-hour period, but the price cannot be overly bullish for the time being. The upper pressure level continues to focus on 61500-61800. The 1-hour indicator is bullish, but the price has been slow to stand up, fluctuating at the 61000 mark, and the boll box is also running smoothly, indicating that the market fluctuation is in a stopped state. The support level below is 60900-60700.

Short-term trend:

The market is currently fluctuating near the 61000 mark. Today is the last day of the weekly line, so the trend from afternoon to early morning will affect the price trend next week. The pressure level continues to focus on the 61500 line. Only by successfully breaking through and stabilizing can the bullish power be further confirmed. Otherwise, the price will continue to fluctuate downward.

Brothers continue to pay attention to:

Short-term pressure level: 61500-62100

Short-term support level: 60100-60700

Heavy pressure level: 62800-63500

Heavy support level: 57500-58600

The above is a personal analysis of today's market, for your reference only.