5.4 Morning Market Analysis $BTC $ETH

Yesterday, Bitcoin moved upward but faced resistance around 79,100, then briefly pulled back, with the lowest dip reaching the key support zone of 78,000. The decline was limited, and the bears did not continue with a volume-driven sell-off. Subsequently, the price relied on the strong support at 78,000 to quickly stabilize and reverse. From early morning until now, it has fluctuated and surged higher, reaching a high of around 79,400.

The overall market trend shows a pattern of rising to a high, then pulling back, followed by sideways consolidation at high levels. This retracement is merely a healthy correction during the upward move, with no damage to the bullish ascending channel that began in late April. The medium-term bullish structure remains solid, and the downside has been fully blocked.

From the four-hour technical analysis: The DIF indicator has turned upward from a low point, with the previous death cross indicating bearish momentum gradually weakening. The risk of a bearish reversal is decreasing. In terms of volume, the structure shows a typical bullish pattern, with decreasing volume during the pullback and increasing volume during rebounds. The main force appears to be shaking out weak hands and accumulating positions, a classic bullish continuation pattern.

Trading Suggestions:
Buy in stages around 77,500-78,000 on dips, targeting around 79,500-81,000.