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Market Trend Analysis: $BTC (2026-5-5)
Actually, from a daily perspective, the market is currently completely dominated by the bulls, and the rise is just the prelude to a new upward trend, making long positions more cost-effective.
But the more this happens, the more we need to be cautious of bull traps. Everyone sees the phase of oscillating upward ahead, which is very similar to the current trend. At that time, it was also a breakout from bottom consolidation, slowly rising 📈, and breaking through a new daily high, but it still was a bear market with a single spike 📉.
The highest point I personally see right now is around 85,919; I don’t see higher levels as promising. MACD has also reached the oversold area of the last price.
Moreover, due to the recent intense impact of international situations (U.S.-Iran war), I am not very optimistic about the subsequent market trend.