5.8 Morning analysis still looks bearish:



For Bitcoin, after surging during the morning, the price faces pressure and pulls back. The 80,000 integer level is exerting extremely strong resistance. The upper band of the Bollinger Bands is also curling downward at the same time, showing that short-term rebound momentum is severely lacking. Trading volume has not shown any effective expansion or follow-through. The primary short-term support to watch now is at 79,700. Once the price effectively breaks below this level, the bearish trend will be further extended. The overall market structure is relatively weak. In terms of trading, 80,000 can be used as the core resistance level—observe the strength of the rebound. If the rebound lacks strength, you can follow the trend and place short positions accordingly.

Trading suggestions:
Bitcoin 80,500-81,000 bearish, target 79,000 and 77,500
ETH 2320-2340 bearish, target 2270 and 2200
BTC-1.66%
View Original
post-image
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin