Today is May 7th, BTC price is 80,980

BTC broke above 80k yesterday with a sharp rise followed by a pullback, currently trading sideways around 81,000, and the price is still above the 5-day moving average, so the trend is definitely not bearish. Someone might ask, Brother Liang, you said yesterday that it’s bullish, but it hasn’t gone up today! This might be a question many people have.
Let me give everyone an example: You are walking a dog while holding its leash, the dog dashes forward and then pulls back, but it always moves forward with you.
How to understand the meaning inside? Small fluctuations in price are normal, when it surges higher, some people choose to sell contracts and close positions, just like if the dog runs too fast, the leash pulls it back.
In fact, you control the rhythm, and you control the direction, too. So in the candlestick chart, you represent the moving average, and the direction you choose represents the direction of this moving average. (See the diagram below)
Price is above the 5-day moving average, and the moving average is trending upward, so it’s bullish.
The 5-day moving average represents the average transaction price over the past 5 days. The price is above this line, and the line is pointing upward.
Of course, some people might say, “If it breaks below, does that mean it’s turning bearish?” Then we need to see whether the falling price is a destructive trend, which would change the direction of the moving average, to judge whether it’s turning bearish. Of course, these are the simplest basics, just to explain to new brothers.