$BTC

During the May Day holiday, trading continues without interruption, and market opportunities won’t wait.
Last night, the “big pancake” stabilized around 78,000, then surged higher all the way, peaking above 79,400. It then briefly pulled back to around 78,200 to complete the retest and confirmation. It has rebounded again to around the 78,700 level. Overall, it has formed a volatile-but-strong rhythm: first a surge, then a pullback, and then a further repair.
On the four-hour timeframe, the price has been staying pressured by the middle band of the Bollinger band, with the center of gravity continually shifting downward—this is a standard bearish arrangement where lower highs and lower lows keep getting set in sequence. Although it previously touched 74,868 and then paused, this rebound’s magnitude has been limited; it didn’t even reach the middle band. That’s a typical oversold correction, not a reversal. The strong resistance zone above 79,400-79,700 still stands—so long as the rebound is blocked by this area, the downtrend will continue. Downside, the key level to watch is 74,868. Once it’s probed again and effectively breaks down, it will most likely open a new round of accelerated selling.
Morning trading suggestions
Short the “big pancake” around 79,200, target 77,700
Short “Yitai” around 2,360, target 2,300