5.4 Morning Market Analysis $BTC $ETH

Yesterday, Bitcoin moved higher but faced resistance around 79,100, then short-term pulled back, with the lowest dip reaching 78,000, a key support zone. The decline was limited, and the bears did not continue with heavy volume downward movement. Subsequently, the price relied on the strong support at 78,000 to quickly stabilize and reverse. From early morning until now, it has oscillated 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 shakeout during the upward move, with no damage to the bullish ascending channel that started in late April. The medium-term bullish structure remains solid, and the downward space has been fully blocked.

From the four-hour technical analysis: The DIF indicator has turned upward from a low position, with the previous death cross and bearish momentum gradually weakening. The risk of a bearish reversal is diminishing; in terms of volume, a standard bullish structure has formed, with decreasing volume during the pullback and increasing volume during rebounds. The main force shows signs of shakeout and accumulation, a typical bullish continuation pattern.

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