May 6, Wednesday Morning Share

Reviewing yesterday’s market, Big Cake positioned longs around 80,000, and as expected the price rose, topping out at 81,700—profits were realized precisely. After the spike, bullish momentum quickly weakened; the market then fell into a high-range sideways consolidation. In the short term, upside room was completely capped. The bulls lacked the strength to continue their push, and bearish signals on the board gradually became more prominent.

Judging the overall market rhythm, the morning’s general approach for today is mainly to look bearish in line with the trend. A rebound is an opportunity to short. Fans who can keep up with the pace can feel confident in setting up trades and capturing profits on the pullback.

In-depth technical analysis: After the price repeatedly fought for control and faced pressure at the middle band of the Bollinger Bands, the bears then took full control—directly breaking below the lower band support. The market has officially entered a weak downward channel. Currently, bearish volume continues to surge in an orderly lineup. In the short term, moving averages have collectively turned downward. All technical indicators move in sync to weaken as they converge, confirming an extremely weak bearish setup for the short run. Next, the priority is to look for a continuation of the pullback.

Big Cake: Around 81,500–82,300, watch: 80,000—79,000
Yitai: Around 2,375–2,410, watch: 2,330—2,250$BTC ‌$ETH ‌