Mr. Coin in the Cryptocurrency Circle: May 16 Bitcoin (BTC) Market Analysis Reference

The Bitcoin market has rebounded after a decline during the day, continuing its downward trend under the influence of news. Currently, support has shifted close to the daily axis support level, with the 80,000 mark already broken. A short-term pullback saw a rebound around 79,200, with a low dive to 78,610. For now, let's look at the short term; the 1-hour, 2-hour, and 4-hour charts all show a bearish advantage! The price has broken below the middle Bollinger Band, MACD has formed a death cross with volume, and KDJ continues to stay low; the short-term bearish trend isn't over yet, entering on the left side is a guaranteed loss!

Looking at the daily level, the bullish trend hasn't completely collapsed; the price is still above the middle Bollinger Band, but the MACD red bars have turned green, and KDJ is turning downward, clearly indicating a decline in bullish momentum. Resistance above the lifeline is at 81,000; stabilizing there is necessary for a chance to return to bullishness; support below is at 77,300, and if broken, this pullback could reach 76,000! The funding situation shows an open position of 8.1 billion with a net inflow of 100 million, but this is a passive acceptance during the decline, not active buying! The current market sentiment is panic selling, with opportunities for bottom hunting and shorting; the defense can be set at 81,800, targeting directly below the previous low of 78,600! In terms of operations, it is advised to short during rebounds and consider going long only if support stabilizes. Follow Mr. Coin for real-time market analysis.

May 16 Bitcoin Short-term Reference:

Go short in the range of 80,500-81,500, with defense at 83,500, and a stop-loss of 500 points, targeting below 80,000.

Go long in the range of 76,000-77,500, targeting above 78,500, with a stop-loss of 500.

There may be delays in updates; strategy suggestions are for reference only. Market conditions change rapidly, no matter how high the accuracy of market judgment is, always be sure to have your take-profit and stop-loss in place for security.

For more real-time trading strategies, online technical learning, liquidation strategies, and exit plans, follow the mentor's public account (Mr. Coin Talks Currency) for access: the first ten every day can receive free liquidation strategies!

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