Jingyu | May 5th BTC Market Analysis

From a technical structure perspective, the market has effectively reached the upper band of the Bollinger Bands during the rally phase. Currently, the Bollinger Bands remain in an open shape. Although the price on the chart is still gradually rising, the bullish momentum has clearly weakened, and the subsequent trend is likely to see a large bearish candle pullback and correction.

Meanwhile, both the hourly and four-hour cycle TD indicators have reached the critical 9-value extreme point, which is a typical technical top reversal signal.

Before a significant breakthrough at the key resistance level, it is recommended to stick to the original trend logic and avoid arbitrarily switching trading judgment directions. The middle band of the four-hour Bollinger Bands has formed a core intra-day strong resistance level. The overall trading approach remains to short on rallies, with a downside target looking at the $79,000 level.