Bitcoin is bearish | stay cautious (1H)

5月29日

This analysis is an update of the analysis you see in the "Related publications" section

We have been warning about a potential Bitcoin correction for some time. It appears that wave G has ended, and key levels have been lost. If the price reaches the red box, it is expected to be rejected downward.

The green zone is a relatively strong support area for Bitcoin, and we should closely watch this level.

A daily candle closing above the invalidation level would invalidate this analysis.

For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You

5月30日

交易進行

After hitting the marked zone, it has dropped by over 3.39%

It's wise to take profit here, as Bitcoin could potentially move back toward the red zone | or even beyond | from one of the two green boxes | Pay attention to the yellow arrows.