May 8, 2026 BTC Technical Analysis

Current price: approximately $80,250, down about 1.47% in 24 hours, in a tug-of-war around the $80,000 level

1. Daily Chart (Mid-term Trend)

1. Moving Average Structure: Price remains above the 15/30/60-day moving averages, the mid-term bullish trend remains intact, and the overall upward structure is complete

2. Bollinger Bands: The upper band around 81,500 forms strong resistance, the middle band at 77,700 is a key mid-term support, currently oscillating above the middle band and pulling back

3. MACD Indicator: The red bars continue to shorten, bullish momentum significantly weakens, volume-price divergence appears at high levels, indicating a strong short-term correction is needed

4. Candlestick Pattern: Yesterday's bearish engulfing pattern, high-level rally followed by pullback, bulls lack strong buying interest, selling pressure gradually releases

2. 4-Hour Chart (Short-term Rhythm)

1. Trend Reversal: Price breaks below the short-term 15/30 moving averages, shifting from strong to weak, entering a weak oscillation and correction cycle

2. Key Levels

◦ Resistance: 80,500–81,000 (rebound resistance zone), 81,500 (strong resistance, previous high with dense trading volume)

◦ Support: 79,500 (short-term first support), 78,000 (daily key defense level), 77,700 (Bollinger middle band strong support)

3. Volume Performance: Rebound volume continues to shrink, decline volume increases, bears hold the short-term advantage

3. Core Intraday Judgment

1. Mid-term bullish structure remains intact, trend above 77,700 still biased bullish, only a high-level correction, not a trend reversal

2. Short-term is in a weak oscillation, mainly facing resistance during rebounds, unlikely to see a strong rebound or surge

3. 80,000 is a short-term dividing line; holding above suggests oscillation and recovery, breaking below targets 78,000 support

4. Intraday Trading Strategy

• Short: Short positions around 80,500–81,000 on rebounds, target 79,500 and 78,000, stop loss above 81,500

• Long: Consider low buys on dips around 77,700–78,000 support zone after stabilization, target 80,000 and 81,000, stop loss below 77,000

• Risk Control Tip: Increased volatility during high-level oscillations, strictly control position sizes, avoid chasing rallies or panic selling