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#Bitcoin
Today’s Market Analysis and Strategy for May 8
⚡️Intraday Resistance: Around 80,600
⚡️Intraday Support: Around 79,500
Recently, after touching around 82,800, it quickly pulled back, and the bullish momentum on the daily chart has been continuously weakening. The 4-hour chart broke below the Bollinger middle band and approached a key level. The funding rate has turned positive, and the bears are no longer serving as fuel. Next, focus on around 79,500; a break below could further open downwards space.
Suggestion: Short-term rebound short positions, with resistance around 80,600.