Master Chen 5.17: Selling in the overbought range has decreased, and the market still needs time to rebound #BTC走势分析 #比特币走势分析 #5月市场关键事件

Yesterday, Master arranged short orders in batches in the 66700-67100 range, and the market rose to 66752 at 8 pm. Then the price continued to fall, and the short order target 66100-65700 made a profit of 1,000 points.

And the long orders arranged in batches in the 64600-65000 range fell to around 64600 in the early morning. Then the price rebounded as expected, giving the long orders a chance to hit. In the morning, the price also rose to 65900, and the long orders also made 1,300 points of profit.

BTC 4 hours:

Although it rebounded due to expectations of an early reduction in the benchmark interest rate, the hawkish remarks of the Federal Reserve officials the day before also caused BTC to fail to continue the upward trend.

Because the price of BTC failed to break through the high point on the chart, after forming a large negative line, the master believes that the rebound still needs time. However, in the medium and long term, the master will still maintain the view of rebound.

But there are fewer short-term buying orders, and it is also in the overbought range, so the master recommends looking for entry opportunities during adjustments.

The first short-term resistance reference is 65630, and the second resistance reference is 66760. When the price breaks through the first resistance in the short term, the bullish view can be maintained.

But if it fails to break through again, it should be treated with a short-term bearish view. Maintain a short-term rebound view near the 65000 support line, and the probability of adjustment will be higher at 66000.

The first support is 65200, and the second support line is 64500. The master will take the psychological support level of 65000 as an important support. If it falls below the first support, the low point may be lowered, looking down to 64500.

After the rebound, the master judges that a box range will be formed and adjusted, so it is necessary to pay attention to support and resistance and flexibly respond to the back and forth operations of long and short.

Please refer to these suggestions when trading

5.17 Master's short-term pre-buried orders:

Long entry reference: 64600-65000 range, long in batches, defense 500 points, target 65700-66700

Short entry reference: 65700-66100 range, short in batches, defense 500 points, target 65000-64500

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