Tuesday, May 5th Market Analysis


Bitcoin experienced a rapid consecutive rally in the morning, reaching a high of around 80,871.
The short-term rally has accelerated too quickly, and the upward momentum has shown clear signs of diminishing.
At this point, the market presents a typical high-level stagnation signal: after a continuous surge, the upper shadow lengthens gradually, indicating that the bullish momentum is weakening at high levels, and the short-term divergence rate is also rapidly expanding.
Our short-selling strategy is based on this structure of overbought conditions at high levels and a trend-following pullback: entering at the point where the price hits the previous resistance zone and momentum exhaustion, aiming to confirm a pullback to key support levels below.
This approach is both a technical correction of the short-term overbought market and a re-confirmation of the bullish trend rhythm, precisely capturing short-term trading opportunities at turning points.
BTC trading suggestion: Short at the current price of 80,800, add positions at 81,500, take profit at 79,200-78,500, stop loss at 82,000.
ETH trading suggestion: Short at the current price of 2,377, add positions at 2,410, target down to 2,320, stop loss at 2,450.
BTC0.85%
ETH-0.01%
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