May 3 Morning Analysis

The current BTC price is 78,657.9 USDT, which surged briefly to 79,145 before quickly falling back. The bullish momentum shows clear signs of exhaustion. The intraday rally and pullback formed a long upper shadow pattern, with selling pressure concentrated and released from above. It appears that the main force's buy orders are supporting the price, but in reality, it is a high-level trap to induce more buyers and absorb supply. The net capital inflow suggests a short-term attempt to push the price higher before distributing. High-level volume has shrunk, so the recommended trading strategy is to short on rallies. If the rebound faces resistance and cannot break through the resistance level, consider short positions; if the price effectively breaks below the middle band of the Bollinger, add to short positions in line with the trend, as the downward space will be fully opened.
Target around 78,900-79,800, and around 77,800-77,100. #BTC #ETH #BTC走势分析