Under strong pressure, the bulls are in danger, beware of a deep correction in the price of Bitcoin

Today's information:

Today's information:

U.S. stocks closed: the Dow closed up 0.25%, the Nasdaq closed up 0.79%, and the S&P closed up 0.39%. The U.S. stock blockchain sector closed down 0.56%.

Market review:

Bitcoin started to go down at 8 o'clock yesterday morning, and until 10 o'clock in the hourly chart, there was a big negative drop, which directly broke the previous 3-day upward trend of shocks. The short-term situation has been reversed. Although the price rebounded afterwards, it still did not stand firmly at the 9600 position in the end. In the early morning of the day, the price went down again and reached the lowest point of 9222 to refresh yesterday's low point, and the multi-party situation became more severe. As of 9:30 a.m., the price of Bitcoin is running around 9370.

Market analysis:

Market analysis:

Looking at the daily line level, the price pulled up strongly on May 13 and 14 and touched near 10,000 points, and then fell back yesterday, with a maximum drop of more than 600 points, and the drop was relatively strong. With this fall, there are signs of a daily double-top gradually taking shape. If the price in the market outlook cannot go up strongly and break the suppression of 10,000 points, then the possibility of the price going down to test the 8200 area will gradually increase.

At the 4-hour level, the price received support at the 60-day moving average after 4 consecutive negative days. At present, the price has rebounded slightly, and after breaking through the middle rail of the Bollinger Band, it is under short-term pressure on the 5-day moving average. In the future market, if the price can break through the suppression of the 5-day moving average, the price will have the opportunity to test the suppression of the 9500-9550 position again. Looking at the indicators in the attached picture, the MACD is dead fork downward, but the current downward trend has eased. RSI ticked upwards, Stoch golden cross.

On the whole, the price of Bitcoin should maintain a volatile and orderly attitude in the short term. But at present, the short position is indeed in a dominant position. After the price has repeatedly risen, it failed to achieve a key victory after breaking the 10,000-point suppression. The confidence of many parties will also gradually weaken. Under the ebb and flow, the possibility of prices falling again under the pressure of the short side is also gradually increasing. Therefore, in terms of intraday operations, it is recommended to focus on high altitudes, supplemented by long orders at low positions.

Operating strategy:

Operating strategy:

1. When the price touches around 9460, enter an empty order, stop loss above 9520, and take profit at 9360;

3. When the price falls below the intraday low of 9220, follow up the short order with a stop loss of 50 pips. For the take profit position, first look at 9160, and then at 9100;

The author Yu Jixin sent a message:

The author Yu Jixin sent a message: