Bitcoin Public Reference on the 7th:



1. On the daily chart, after a stretch of continuous gains, RSI is approaching the 70 overbought zone; volume has not expanded in sync, and after a spike the price falls back, leaving a long upper wick—selling pressure is clear.

2. From the hourly chart, the Bollinger upper band at 81,366 is a strong resistance level. After the price spikes higher, it quickly pulls back, forming a bearish engulfing pattern.

3. From the news perspective, on May 6th, MicroStrategy(Strategy)announced a Q1 net loss of 12.54 billion USD, due to an unrealized loss of 14.46 billion USD on its holding of 818,334 BTC.
Institutions holding BTC face risk exposure; concerns that large institutions will reduce their holdings drag down Bitcoin sentiment.

Trading suggestion: If it rebounds to around 81,500-82,000, consider going short.
First 🎯 80,500-80,000
If ⬆️ breaks above 82,000 and does not pull back effectively, go short along with the rebound trend.
$BTC #Gate广场五月交易分享 #比特币站稳8万关口 #加密市场回升
BTC0.15%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin