May Day Bitcoin Market Analysis



During the May Day holiday, the large-coin (BTC) market overall traded in a volatile range but trended upward. Earlier, it had been consolidating and building momentum in the 76,000–78,000 range, with sufficient rotation of positions and turnover of chips; bullish capital continued to step in and enter the market. Toward the end of the holiday, the bulls pushed harder, breaking through the 80,000 mark on increased volume and surging above 81,000; a bullish structure for the short term has been established.

The 80,000 level has now turned into strong support, and the trend is still leaning bullish. However, after a consecutive run-up, the upward momentum is weakening. In the short term, be cautious about a pullback from high levels and about range-bound oscillations; do not chase the price higher. Waiting for a retest and pullback to support before entering again is more prudent: #Gate广场五月交易分享 $BTC
BTC1.44%
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