5.8 Bitcoin Public Outlook

Currently, Bitcoin continues its short-term weak decline, breaking below the Bollinger middle band and oscillating at low levels around 79,500. Overall, it remains weak, mainly aiming for rebounds to short on the highs, with cautious observation needed for low buys.

Key Levels
Short-term resistance: 79,800–80,000 (retest resistance zone, prioritize shorting on rebound resistance)
Strong resistance: 80,500–80,800 (intraday peak platform, stabilizing above indicates short-term stabilization)
Support levels: 79,400–79,200 (intraday low support, break below targets 78,800)

Trading Suggestions
Shorting on highs: Short at rebound levels of 79,800–80,000 with signs of stagnation, first target at 79,400–79,200, second target at 79,000–78,700
Low buying: Only when the 79,200–79,400 zone stabilizes and shows signs of a bottom can light long positions be attempted, first target at 79,800–80,000, second target at 80,000–82,000
Breakout: If it effectively breaks below 79,200, follow the trend to short, targeting 78,800–78,500; if it stabilizes above 80,500, adjust the strategy to look at 81,000 resistance.

Summary
Prioritize short positions at resistance levels, avoid blindly bottom-fishing, strictly control positions, set proper stop-losses, and prevent premature cuts during the downtrend.
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