5.8 Bitcoin Morning Outlook

Bitcoin's overall current trend is clearly bearish, with prices rising and then facing continuous resistance and falling back. The current price hovers between 79,700 and 79,900, with insufficient upward momentum, indicating a short-term weak downward trend.

The daily chart has already shown a bearish pattern, and the 4-hour chart is even a standard downward structure. Any short-term rebound is just a correction, making it difficult to see a reversal to a strong upward trend. The first strong resistance level above is 80,500; as long as a rebound touches this level, it is likely to encounter resistance and fall back. Further resistance between 81,300 and 81,800 is heavier, with little momentum for a breakout and strength. The support zone below at 79,000-79,500 is weak; once broken by the bears, the price could directly drop to 78,600 and 78,000. The 77,000 level is a key subsequent defense line. Overall, the market remains dominated by bears.

Today's outlook is firmly bearish, with all rebounds seen as opportunities to short. As long as the price cannot break and hold above 80,500 with increased volume, there is no need to consider a bullish reversal.

Trading suggestion: Short in stages on rebounds to 80,500-81,000.
Target at 78,500-79,000.