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Analysis of Bitcoin Market on the Afternoon of the 5th: Bulls and bears are competing back and forth at the 80k level, with the rally losing momentum and starting to decline. The future trend has become clear.
This morning's market trend aligned with market rules, with the price initially falling to 78.2k before quickly rebounding, breaking through the 80k resistance level, reaching a high of 80.5k.
Although the short position strategy given in the early session was somewhat aggressive, additional positions have been arranged afterward. Currently, the price has returned to the entry point, and it can be held further.
The upward momentum is lacking strength, and the short-term trend remains weak. It is recommended to short on rebounds.
Place short positions around 80,300 on the rebound, with the initial target at 79,000, and below that, look for 74,800. $BTC