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May 2nd Xiaoyue Evening Bitcoin Analysis
After Bitcoin surged to a high of 78,900, the upward momentum clearly slowed down. The price repeatedly faced pressure at high levels and was unable to break through the previous high. At present, the overall market is in a state of consolidation at high levels. While the strength of the upward move has weakened, the buying/support below is not particularly strong either. Bulls and bears are currently in a tug-of-war. The short-term direction is still unclear. It is necessary to watch whether it can hold the current range, or whether it will further weaken and pull back.
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