Earlier, Bitcoin reached a weekly high of $106,518 before pulling back due to market liquidation, with total market liquidations exceeding $669 million. Bitcoin has closed higher for five consecutive weeks on the weekly chart, forming a "higher highs and higher lows" upward pattern, rising nearly 43.75% from its recent low. However, it encountered resistance near the all-time high of $109,588 and failed to break through. Currently, Bitcoin is trading in the $100,000-$110,000 range, with strong support at $100,000 and $90,000, and key resistance at $110,000.👉👉👉
After Bitcoin previously broke through $105,500, the moving averages showed an upward trend, and the RSI was in the overbought zone, indicating strong bullish momentum.
Overall, under the combined influence of news and technical factors, the Bitcoin market on May 19th showed a short-term volatile but long-term optimistic trend. Investors need to closely monitor changes in key support and resistance levels, as well as the impact of market news, and make investment decisions cautiously.
BTCUSD Trading Strategy
buy @ 102500-102700
sl 101000
tp 103800-104000
If you think the analysis helpful, you can give a thumbs-up to show your support. If you have different opinions, you can leave your thoughts in the comments. Thank you for reading!👉👉👉
After Bitcoin previously broke through $105,500, the moving averages showed an upward trend, and the RSI was in the overbought zone, indicating strong bullish momentum.
Overall, under the combined influence of news and technical factors, the Bitcoin market on May 19th showed a short-term volatile but long-term optimistic trend. Investors need to closely monitor changes in key support and resistance levels, as well as the impact of market news, and make investment decisions cautiously.
BTCUSD Trading Strategy
buy @ 102500-102700
sl 101000
tp 103800-104000
If you think the analysis helpful, you can give a thumbs-up to show your support. If you have different opinions, you can leave your thoughts in the comments. Thank you for reading!👉👉👉
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.