5.4 Morning Bitcoin Market Outlook

Good morning everyone! Continuing to share our morning market outlook for Bitcoin.

In the early-hours trading session, the market continues to show unusual movement. Bitcoin started to rally from around 78,600, surged with a long bullish candle up to around 79,400, then met resistance and pulled back. It is currently consolidating around 79,200. Although short-term bullish sentiment continues, the overall bearish trend led the market and has not reversed. The downside impact from the Federal Reserve delaying interest rate cuts is still in effect. The sell pressure in the 79,400–79,600 range has not been fully digested yet, so the risk of chasing longs remains relatively high. During the day, the focus should still be to mainly short on rebounds at higher levels, and at lower levels only take ultra-short, light-position entries for small tests.

Trading suggestions:
Short in the 79,200–79,500 rebound zone; the first target is 78,500. If it breaks, continue to look down to 78,000 → 77500$BTC