May 6th Trend Analysis: Bitcoin volume breakout confirmed, Ethereum shrinking volume false rally?

Bitcoin successfully stabilized above $77,000 and broke through the psychological barrier of $80,000 in early May, hitting a new high in three months, with a 21% increase on the 30th. The current price is around $81,500, with an overall daily bullish trend.
The first resistance level is at the $81,800-$82,000 range. This area is not only near recent price highs but also where the price previously faced significant selling pressure and left upper shadows, serving as the first psychological and technical hurdle for the bulls to overcome. More importantly, $83,000 is the most critical macro barrier on the current daily chart; this zone is the most important psychological and structural obstacle on the daily timeframe. If the daily close can effectively stay above this level, it will open the door for macro expansion.
The first support is at $80,000-$80,150. This zone is where recent candlestick structures show a rebound and stabilization, and it also contains the 24-hour low price, serving as the last psychological line of defense for short-term bulls.

Ethereum is currently quoted at $2,360, following Bitcoin's upward trend but clearly weaker than Bitcoin, showing a linked rebound, oscillating with a slight bullish bias but lacking momentum. The first resistance is at the $2,375-$2,400 range, which is a strong resistance zone repeatedly tested in recent candlestick charts and a key liquidation line in the derivatives market—data shows about $403 million in short positions above $2,412. Breaking through this area could trigger a large-scale short squeeze. If the $2,400 level is effectively broken on the daily close, the next target range is $2,550-$2,650 (about 7% upside), further pointing to the $2,800 historical key resistance zone.

If this breakout fails to continue, prices are more likely to remain within the current range. The first support is at $2,330-$2,360, including 4-hour moving average support and intraday rebound stabilization levels; the core structural support is near $2,300, which is a key defensive line for the recent upward trend. Falling below this would invalidate the short-term bullish logic.

Trading Suggestions:

BTC: Buy at $80,100-$80,600, target $82,000-$83,500, stop loss $79,500

ETH: Buy at $2,280-$2,320, target $2,500-$2,600, stop loss $2,240

The opinions, conclusions, and recommendations in this article are for reference only and do not constitute investment advice. The market carries risks; invest cautiously.