5.6 Bitcoin Morning Analysis

After breaking through the 81,000 level on the hourly chart, Bitcoin reached a high of 81,725, creating a short-term new high, but the bullish momentum was insufficient afterward, and the price was unable to stabilize above 80,830. Currently, it has officially entered a correction phase.

80,500, as the lower boundary of the triangle consolidation, is also the core strong support for this round of market movement. The previous resistance at 81,000 has now turned into an important defensive support for the bulls. If this level is successfully held, the market will only consolidate sideways in the short term; once it is effectively broken below, the downward trend will continue further, and the 79,800-79,500 zone, which served as a previous consolidation platform, has good short-term buying support.

This round of low-level rebound has accumulated enough gains, and a technical correction is normal in the market. The switch between rise and fall is healthy for an upward trend. This correction will not lead to a one-sided rapid decline; overall, it will maintain a sideways downward movement, with a pattern of consolidation and retracement.

Trading Suggestions:
Current prices can consider short positions in the 81,500-82,000 range, with the first target at 80,300-80,000, and the second target at 79,500-79,000. Market volatility is intense, so strictly set stop-loss orders and reasonably control position sizes.