5.1 Afternoon Market Analysis$BTC $ETH

Bitcoin surged strongly during midday, breaking the 77,400 resistance level and reaching a new high, then slightly pulling back for a correction. Currently, it remains in a high-level, strong, narrow-range oscillation pattern. The small retracement after the surge is just a normal shakeout during the upward move, not a sign of the bulls weakening. The overall market remains in a bullish dominance phase with strong consolidation.

This round of rally directly broke through previous resistance levels, fully releasing short-term bullish momentum. Support below is solid, and the pullback is a healthy correction caused by profit-taking. Every dip offers an entry opportunity for traders 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 the bulls. There is no significant risk of a deep bear market 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 could easily lead to missing a 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 near 78,000-79,000. If broken, continue to watch for 80,000.