A Simple Interpretation of Bitcoin Market Trends on May 20

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In the past few days, Bitcoin has been fluctuating around 106,000. We originally thought it was going to follow a strong upward red path, aiming for 110,000 or even higher. But now it seems that this path is no longer viable. Why is that?
• It surged to 107,000 a few days ago before turning back, not even touching the 110,000 threshold.
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• Yesterday, it fell below the key support level of 102800 again, which is like the foundation of a house collapsing, making it unstable.

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So what now? Let's look at it from a different angle:
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Bitcoin has risen from 74000 this year to now, having actually completed a whole segment of five-wave upward movement, which is a relatively standard upward pattern. It is currently "taking a break," belonging to the intermediate B wave or second wave adjustment, meaning it has risen significantly, and now it is pausing to catch its breath and reorganize.
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Once this "breathing period" is over, it will continue to take off and start the next round of surge (the third wave or wave C), with a target that may reach above 130,000!
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So what should we do?
• The general direction is very clear: continue to rise!
• It is now the midway break stage, you can't be impatient, you have to patiently wait for it to rest before exerting force.
• Once the consolidation ends, it will be our opportunity to make profits from going long. This opportunity may come in a few weeks or it may take a few months, but it will definitely come.
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In summary:
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Now is the "breather in the middle of a bull market". Don't panic, and don't rush to short. The direction is clear: it's upward. As long as it moves, the opportunity for us to make money will come.
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