5.6 Morning Market Outlook Sharing

First, take a look at BTC’s four-hour timeframe: Bitcoin (the “big cake”) has gone through a round of surging upward, and is currently in a high-level consolidation and ranging area. Although a pullback has appeared, the price is still moving steadily along the upper edge of the rising channel. There are no signals of a breakdown with increased volume, which shows that bullish support remains in place. The current decline is more of a technical correction caused by earlier profit-taking, rather than a trend reversal. During the previous rally, the inflow timing has been healthy, and during the pullback, volume has also been gradually shrinking; selling pressure has not been continuously released. As long as key support levels are not effectively broken, there is still potential for another attempt to push higher.

Next, look at the one-hour timeframe: After Bitcoin (the “big cake”) surged to a phase high, there was a clear and noticeable short-term pullback. The price has been gradually retracing from the high, but overall it still stays above the prior uptrend and has not issued any trend-reversal signal. In the course of the pullback, although the bearish candlestick bodies have expanded somewhat, the underlying buy-side support remains. The key support zone has not been effectively broken so far, indicating that bullish funds have not exited the market. The current price action is more about digesting through high-level consolidation rather than weakening in a one-sided way. Going forward, we should focus on whether support can stabilize.

Big cake trading strategy: Around 80,500, watch for 82,000.
Second cake trading strategy: Around 2,330, watch for 2,400.
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