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Analyst: Bitcoin breaks through an important psychological resistance level, and buying pressure is strengthening
ME News Report, May 4th (UTC+8), LVRG Research Head of Research Nick Ruck stated that Bitcoin’s price broke through $80,000, surpassing the resistance zone that previously limited its movement over the weekend (U.S. time zone). This change significantly boosts the short-term bullish momentum, confirming that the buying pressure following the recent correction is strengthening. Meanwhile, Zeus Research analyst Dominick John pointed out that as Bitcoin’s price breaks through a key psychological resistance level, the market is experiencing a technical short squeeze. (Source: MLion)