🍌5/5 Midday Bitcoin Market Outlook

Yesterday, Bitcoin experienced a pullback due to negative news, but it never effectively broke below the key support level of 78,536, only a false breakdown, then quickly recovered and stabilized above the support level; subsequently, it strongly broke through the resistance at 79,469, and after the breakout, two retests successfully confirmed the support was valid, then it surged higher, reaching a new high of 81,050.
If the market truly intends to decline, the negative news yesterday could have easily led to a volume-driven plunge, with no need for a quick recovery and stabilization, which indicates that the current market shows no signs of topping or retreating, and the upward cycle is still ongoing.
At this stage, for Bitcoin to continue its bullish momentum strongly, it must effectively break and hold above the 80,815 resistance level; only after breaking through can there be momentum to challenge the 81,810 stage high; if it fails to break 80,815 for a long time, the market will be confined to a narrow range between 81,050 and 79,813, waiting for the next directional choice.
During the pullback, as long as Bitcoin maintains the flag pattern structure and does not break below it, the decline will not expand; even if it temporarily breaks below the 79,469 support, it is not a big deal. Once the flag pattern is lost, the market will weaken further and test the lower strong support at 77,370.

Trading Suggestions:
If Bitcoin breaks above 80,601 with volume and stabilizes, consider going long;
If it breaks below 79,708 with volume and fails to rebound, follow with a short position, strictly setting stop-loss.
Hourly chart: Stay above 80,601, target 81,810—83,353;
4-hour chart: If it effectively breaks below 79,747, look for a decline to 78,775—77,317.