5.1 Bitcoin Analysis

From a technical perspective, after the 1-hour chart of Bitcoin surged past the key level of 76,738 and closed with a long upper shadow bearish candle, the bulls faced strong resistance. Short-term selling pressure is concentrated and being released; upward momentum is clearly weakening. The KDJ indicator is turning at high levels, with the J value rapidly falling back, and the K and D lines are losing upward momentum, forming a short-term top signal, indicating an urgent need for a correction.

On the news and macroeconomic front, the market previously surged, accumulating a large amount of profit-taking; short-term profit realization sentiment is rising. Coupled with macroeconomic uncertainty, capital's willingness to chase higher prices is low, and the support at high levels is insufficient.

In terms of volume and price structure, during the surge phase, trading volume did not expand synchronously, which is a typical pattern of shrinking volume during a rally. The upward move lacks sufficient capital support, making it difficult to continue. Currently, the price has fallen back to 76,517, with a strong resistance zone formed between 76,700 and 76,738, making a short-term breakthrough unlikely. Overall, the convergence of technical top signals, cautious capital, and profit-taking indicates that Bitcoin is likely to continue a short-term correction. The main outlook is bearish, with attention to support levels below.

Trading suggestion: 77,000-77,500 range, with targets at 75,000-75,500.