🍉May 7 Midday Bitcoin (BTC) Outlook

Bitcoin has currently broken below the bearish flag pattern, testing the key support level at 80,885. Once this support is broken, the market will further decline toward 79,590; at the same time, after breaking 80,885, the previous short-term bullish trend will also become invalid, and the market will shift into a range-bound consolidation.
In this wave of correction, short positions should be taken with caution—take profits when the move looks good, and avoid holding onto positions out of greed to prevent being caught again.
This correction is merely a normal technical pullback after a sharp rise, with the hourly support at around 78,205—there's no need to panic excessively.
A correction after a big rally is normal market behavior; short-term declines do not necessarily indicate a trend reversal. If Bitcoin stabilizes at 80,885, a rebound will still be possible later.

Trading suggestions:
• Confirm volume-supported breakout above 81,314, then go long on the right side;

• If volume increases and price falls below 80,852 with a failed rebound, follow up with a short position, and be sure to set a strict stop-loss.

• If the 4-hour timeframe drops below 80,878, the downward target is 79,601—78,440.

$BTC