Analysis of the morning session on May 3: Bitcoin market is weak, is it waiting for the non-agricultural data to save the market in the late session?

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Review: Overnight, the trend of Bitcoin market fluctuated and stretched. In terms of operation, it was given to short at 59,000. After taking 700 points, the price of the currency directly approached 59,500 and repeatedly pulled and fluctuated. At the early morning node, Bitcoin stepped back to the 58,500 area for the second time and rebounded and repaired quickly. For the overall structure, it is still biased towards fluctuations. The current price of Bitcoin is 59,200!

Analysis of the market: The short-term one-hour attached figure structure, the price of Bitcoin has risen continuously and briefly broken the previous 59,500 top and bottom conversion position, and stepped back to confirm the middle track support to form a double bottom. In terms of rhythm, it is still biased towards fluctuations. So, in terms of operation, pay attention to the break of the low position of the middle track position of the hourly line at 58,500. In theory, it is necessary to look at the short-term retracement of the short position before going long, because in the short term, there is already a signal of a small increase in the market outlook.

Short-term operation suggestions:

Take long positions near 58600, aim at 60500 area, and defend 58000! If the price reaches 60000, you can consider shorting.

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