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May 4th Bitcoin Analysis
The current market shows a pattern of bottoming out and reversing → a sharp surge in one direction → high-level consolidation trend, with prices approaching the two-month high.
The bulls are in control but are entering a divergence phase, and overall, it is in a high-level consolidation and digestion zone.
Focus on the 80,000 integer level above, which remains a key resistance level.
If a valid breakout and stabilization occur, the market is expected to continue upward.
The initial target above is in the 81,500-82,000 range.
Do not blindly chase the high, beware of quick pullbacks after false breakouts.
Support below is at the 78,500 level.
If this level is broken, it can be used to gauge the space for a pullback.
Further support is near 77,500.
$BTC
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