5.1 Friday, Morning Latest Thoughts on Bitcoin



Today is the first day of the long holiday. Wishing everyone can spend it happily. With the holiday coming, the market seems to respond as well—the pace has started to slow down. After yesterday’s Bitcoin pullback and retest of the 752 support zone, the price rebounded and has continued to trade in consolidation above 760. Overnight, there were no major changes; it remains a high-level range.

On the four-hour chart, in the short term, Bitcoin is stepping up steadily on a series of small bullish candles, and it’s currently facing pressure from the middle band. In terms of the short run, after the spike up and subsequent pullback, the overall tone is still led by bears. The rebound on smaller timeframes lacks follow-through. For today, don’t look for a one-way move—short-term entry is enough.

Current short-term resistance is in the 765–770 zone, and short-term support is around 750. As long as this resistance and support are not broken during the day, you can do range-based back-and-forth operations by timing the key points.
BTC2.02%
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