$ETH

The May Day holiday continues without trading, market opportunities wait for no one
Last night, Bitcoin stabilized around 78,000 and then surged all the way up, reaching above 79,400 at the highest point, then briefly pulled back to around 78,200 to complete a retest confirmation, and is now rebounding back to around 78,700. Overall, it has shown a pattern of initial rally, then retracement, and then recovery with a volatile but slightly bullish rhythm.
On the four-hour chart, the price has been pressed down by the middle band of the Bollinger Bands, with the center of gravity continuously shifting downward, forming a classic bearish arrangement with lower highs and lower lows. Although it paused after touching 74,868, this rebound was limited, not even reaching the middle band, indicating a typical oversold correction rather than a reversal. The strong resistance zone above 79,400-79,700 means that as long as the rebound is blocked by this area, the downtrend will continue. The key support level below is 74,868; once tested twice and effectively broken, a new round of accelerated decline is likely to open.
Morning trading suggestions
Short around 79,200 for Bitcoin, target 77,700
Short around 2,360 for Ethereum, target 2,300