May 4 Midday Bitcoin (BTC) Outlook



Currently trading within the range of 78,000–80,290,
To turn bullish, must hold above 79,582, target 80,815
As long as it doesn't break below 79,489, it's still in a range-bound oscillation; only a breakout would suggest a bullish move, a breakdown of support would turn it bearish.

Trading suggestions:
Aggressively chase long positions on a volume breakout above 80,100;
If volume declines and it breaks below 79,443 without recovery, consider shorting accordingly.
Hourly chart: Oscillating with a slight bullish bias, 78,536 is the key support/resistance level;
4-hour chart: If it effectively breaks below 79,470, expect a correction towards 78,540–77,765.
BTC1.45%
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