In the evening, there still hasn’t been much improvement. Bitcoin (“the big cake”) has been retracing since last night, and the market’s trend is also steadily drifting lower. If it’s going to rise further, it likely needs to be supported by time to build momentum. At present, the market structure has entered a wide-range consolidation phase.

Although the weekly chart shows high-level volume surging to form a new high, after consecutive pushes higher it has already accumulated a large amount of profit-taking. Early signs that the move is running out of steam are beginning to appear. The daily chart’s consecutive bullish candles look well-filled on the surface, but in reality it’s an accelerated rush to the top. After an upward thrust driven by end-of-session inertia, it’s easy for a bull trap to form. On the 4-hour chart, price repeatedly probes highs and pulls back while leaning on the uptrend channel. It looks strong, but in fact each pullback has exceeded 1,000 points. This suggests heavy sell pressure at high levels, bullish momentum is gradually fading, and a bearish counterattack may be approaching. At that time, the depth of the pullback is likely to be far greater than the earlier local pullbacks. For trading, you can focus on whether the first resistance level can hold.

In the early morning, Bitcoin can be short in the 81500-82000 zone, targeting around 80000. Ethereum can be short in the 2370-2400 zone, targeting around 2300. #Gate广场五月交易分享 #比特币站稳8万关口