5.7 Thursday Midday Market Analysis

Yesterday, Bitcoin surged to around 82,828 and faced resistance, pulling back, with the overall trend entering a correction phase, with a low of 80,767, nearly all of the previous day's gains being wiped out; Ethereum also faced pressure, rising to around 2,422 before falling back, with a low near 2,311, entering a phase of temporary consolidation.
From the four-hour technical structure, after the market continuously surged and broke higher, it entered a short-term pause and correction stage, still part of an upward correction. However, the previous upward move was large, and any short-term pullback could weaken the current strong pattern. Future judgments should consider candlestick patterns and closing strength to further assess the continuation of bullish or bearish momentum.
On the smaller timeframes, after the surge and pullback, the space has been fully retraced, showing a short-term weak trend, but the overall bullish trend remains unchanged.
Tomorrow, Friday, with the release of the Non-Farm Payrolls and the US-Iran conflict, there could be significant sell-offs; consider shorting at today’s high point.
BTC Trading Suggestion: Go long around 80,500, stop loss at 79,800, take profit at 81,500-82,500.
ETH Trading Suggestion: Go long around 2,310, stop loss at 2,285, take profit at 2,350-2,400.
After reaching the medium-term target, you can chase short positions.