May 4th Morning Bitcoin Analysis by Xiao Yue



From the one-hour chart, Bitcoin stabilized after a dip near 78,000, then steadily moved higher, reaching above 79,400 at its peak, with ample support at lower levels and strong upward momentum. Although there was a quick pullback after the surge, it still remains above the previous support level, indicating that the bullish trend has not been broken. The pullback appears to be short-term profit-taking rather than a trend reversal. The price remains in an upward rhythm; as long as it does not effectively break below the key support, the momentum for further upward movement still exists, and the overall bullish dominance remains unchanged.

Trading suggestion:
Gradually buy in the 77,400-77,900 range, targeting the 79,400-79,900 range.
BTC1.45%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin