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May 8th Bitcoin (BTC) Strategy:
Yesterday, I told my brothers that Bitcoin could drop to 79,500, and it has completely fallen to that level. All short positions have been closed, and we’re steadily making profits!
This morning, Bitcoin surged briefly but couldn’t sustain the rise and started falling again, with the 80,000 level firmly resisting. The short-term rebound has no strength, and trading volume can’t support a rally.
In the short term, focus on the key support level at 79,700. If it breaks below this point, the bears will continue to push the price down. The overall market is currently weak, so operate around the 80,000 resistance level. As long as the rebound can’t gain momentum, go short on rallies. If it can’t go down further, then consider going long.
Bitcoin
Short around 80,500-81,000, targeting 78,500-77,500.
$BTC