5.16 Evening Bitcoin Latest Market Analysis and Strategy

The overall Bitcoin market is currently showing a high-level range oscillation pattern. After a strong return of bulls, bears have not gained significant opportunities for performance. Although the price is in an upward trend, it is under severe pressure above and has failed to break through previous highs, resulting in insufficient sustained upward momentum. The market is forming a balance of competition between rebound and pressure, with the intraday upward oscillation speed slowing down. High-level resistance is concentrated near the upper boundary of the technical channel.

2. Technical Analysis Four-Hour Line Analysis
The four-hour chart shows that the upper Bollinger Band forms a strong resistance, and the rebound attempts in the latter half of the week have failed to effectively break through this pressure level. The technical indicators KDJ exhibit a diverging upward trend, and MACD also shows signs of forming a golden cross, but both have a slow upward pace, indicating that the market is unlikely to break through the existing range in the short term and will likely maintain a consolidation pattern. In the hourly chart, there are subtle changes in the technical indicators: KDJ and MACD slightly turn downward, indicating a reduction in bullish volume and an increase in short-term pullback pressure. However, the lower and middle Bollinger Bands are rising simultaneously, forming a support line that limits the downside potential. Therefore, even if there is a need for a short-term adjustment, the risk of significant downward movement is low, and the market may maintain narrow fluctuations within the range.

3. Operation Suggestions
Based on the current technical indicators and market sentiment, it is recommended to adopt a "high sell low buy" strategy, flexibly operating within the oscillation range.
Range: 102500-15500
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