May 3rd Morning Analysis by Xiao Yue

Bitcoin started from a low point near 77,100, then surged upward all the way to a high around 78,900. For the short term, bullish forces temporarily held a clear advantage. However, after touching the high, upward momentum noticeably slowed down, and the price entered a period of consolidation in the high range. Several attempts to push higher failed to break through the previous high; instead, the price gradually weakened during the consolidation. Currently, both bulls and bears are in a brief standoff. Selling pressure has begun to show above, while downside support is temporarily keeping the price in place. Overall, the market is in a high-range, sideways-to-volatile pattern. Going forward, it will be important to watch whether it can hold the current range, or whether it can further break out and move in a clear direction.

Trading suggestions:
Place orders in batches in the 78,600-79,100 range for a pickup, targeting the 76,600-77,100 range.
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