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5.7 Morning Market Outlook $BTC
Yesterday, Bitcoin generally followed a typical rally and pullback pattern, with very clear market divergence during the day. In the first half, bullish sentiment erupted intensely, with buying pressure continuously pushing prices higher, surging to around 82,800, and the market once experienced a bullish frenzy; in the second half, as resistance increased above, the upward momentum gradually weakened, and bears took the opportunity to rebound, causing prices to face downward pressure, falling all the way to around 80,900. After a round of oscillation and struggle, the price has now stabilized above the 81,000 level.
From the overall technical structure, the market remains in a strong bullish cycle. The previous rally was steady, with a solid foundation for the bullish trend. The pullback after this surge is just a normal technical correction during the upward movement, a preparatory action for further gains. The short-term slight retracement will not directly reverse the current overall upward pattern. In this bullish trend, pullbacks are opportunities. Every time the price dips to key support levels and stabilizes, it’s a prime window to add long positions.
Bitcoin trading strategy: Buy near 81,000-80,500, target 82,500
Altcoin trading strategy: Buy near 2,340-2,320, target 2,400