5.4 Morning Analysis

From the 1-hour candlestick chart, Bitcoin surged to 79,428 and then closed with a long upper shadow and a large bearish candle. The bullish momentum quickly exhausted after the surge, and the short-term pressure signal is clear. The price rapidly fell back to 78,685, breaking the short-term support of this round of upward move. With profit-taking at high levels concentrated and exiting, bearish forces began to dominate the market.

Technically, the KDJ indicator values are currently K at 46.5, D at 57.0, and J at 25.5. The three lines are curling downward, and the J value is falling rapidly, forming a death cross and continuing to diverge. After being overbought in the short term, the need for a pullback is strong, and downside room is further opening.

In terms of structure, this round of rally showed a stepwise surge. After closing bearish at a high level, the upward structure was broken, and the subsequent trend will most likely continue with a pullback. The short-term resistance above is at the 79,000 integer level. If rebounds lack strength, the downward move will continue. For support below, first look at the 78,200 prior consolidation range; after a breakdown, it will likely test the 77,700 area.

Trading suggestion: 79,200-79,700 (箜), targets 77,200-77,700.#WCTC交易王PK #美国寻求战略比特币储备 #比特币ETF期权持仓限额增4倍 $BTC