5.1 Afternoon Market Analysis$BTC $ETH

Bitcoin surged strongly during midday, breaking through the 77,400 resistance level to reach a new high, then slightly retraced for consolidation. Currently, it remains in a high-level, strong, narrow-range oscillation pattern. The small pullback after the surge is just a normal shakeout and correction during an upward trend, not signs of weakening bulls. The overall market remains in a bullish dominance phase with strong consolidation.

This round of rally directly broke previous resistance levels, fully releasing short-term bullish momentum. Support below is solid, and the retracement is a healthy profit-taking correction. Every dip offers an entry opportunity for those who missed out. The downside is limited, and if the pullback doesn't continue, a rebound can happen at any time. Currently, market sentiment is warming towards bullishness, with the trend favoring bulls. There is no deep bear risk at high levels. The afternoon strategy is mainly to buy on dips, avoiding blindly chasing highs. Keep positions light and focus on short-term risk management.

Resistance levels above are gradually being broken and absorbed. Blindly bearish now risks missing the reversal. The subsequent trend is likely to continue with a strong oscillating upward movement, gradually testing new highs and stronger resistance levels.

Trading Suggestions

Buy in stages on dips around 77,000-76,500, targeting 78,000-79,000. If broken, continue to look for 80,000.