5.4 Morning Analysis: Pullback Landing, Stabilizing for a Rally

Since overnight to the early trading session, Bitcoin has maintained a narrow range fluctuation, with prices consistently staying within the 78,000-79,000 zone. After the holiday, market investor sentiment has gradually improved, and the adjustment risk caused by the previous decline from high levels has been fully released. Currently, the market is relying on bullish forces to firmly defend the important support level at 78,000. The trend is in a strong accumulation phase, with bearish downward momentum continuously weakening. The market dominated by bulls has become very clear, and the long positions established at lower levels are gradually being realized.

On the four-hour chart, the upward channel remains intact, with short-term moving averages diverging bullishly, continuously providing bottom support for the trend. The key support at 77,500 has been tested multiple times without being effectively broken, indicating very solid defense by bulls. There is short-term resistance at 78,500, but bullish buying momentum is steadily accumulating. The technical indicators already meet the conditions for an upward breakout, and the subsequent trend is likely to continue oscillating upward, confirming the bullish upward trend.

Trading Suggestions
You can gradually enter long positions in the 77,600-77,800 range, with targets at 79,000-79,500. Follow the trend to seize the upward movement, while strictly managing position risk. $BTC $ETH