May 7 Thought Process Reference:

In the early morning, the Bitcoin market didn’t have much fluctuation. It kept oscillating back and forth in the 81,000-81,500 range, repeatedly probing how much selling pressure 81,000—the key support level—can withstand.
To put it simply, the more times a support level gets tested, the less it can hold up. Also, every rebound has been getting weaker—81500 is now directly acting as a short-term resistance level. The market is clearly in a weak pattern where the recent highs keep getting lower, and the support is being worn down through repeated tests—there are no signs that the market has bottomed out and is about to move up.
Right now, prioritize a bearish outlook. Continue to short from high levels and wait for a pullback. Next, watch whether support will break or hold, and then consider whether to reverse and go long.
Bitcoin
Enter around 81,800-82,500
Target 80,500-79,500
If the downside moves and then can’t go any further—if it stalls and the price can’t keep dropping—then reverse and go long.
$BTC