5.6 Morning Market Outlook

$BTC From the four-hour chart, Bitcoin has completed a round of upward attack and is currently in a high-level consolidation phase, with pullbacks occurring but overall still firmly operating along the upper edge of the upward channel. There are no signs of volume breaking through support, indicating that the bulls are still in control. The current situation is more a technical correction caused by profit-taking rather than a trend reversal. During the previous rally, capital entered in a healthy rhythm, and volume gradually contracted during the pullback. Selling pressure has not been continuously released. As long as key support levels are not effectively broken, there is still momentum for another upward push.

From the one-hour chart, after Bitcoin surged to a recent high, a clear short-term decline appeared. The price gradually retraced from the high level, but overall it remains above the previous upward trend, with no trend reversal signals. Although the body of the candlesticks enlarged during the pullback, buying support below still exists. The key support zone has not been effectively broken, indicating that bulls have not exited the market. The current trend is more about high-level consolidation and digestion rather than a one-sided weakening. Future focus should be on whether support levels stabilize.

Bitcoin trading strategy: Buy near 80,500-80,000, target 82,000
Second coin trading strategy: Buy near 2,350-2,330, target 2,400