May 8, 2026 BTC Technical Analysis + Complete Trading Strategy

Current price: approximately $79,600, down about 2.05% in 24 hours, losing the $80,000 level, retreating from highs into a technical correction cycle

1. Core Technical Judgment

Daily Chart (Medium-term Trend)

1. Price remains above the 15/30/60-day moving averages, the medium-term bullish trend has not been fully broken, representing a normal pullback after an uptrend

2. The middle band of the Bollinger Bands at 77,700 provides strong medium-term support, with the upper band at 81,500 showing clear resistance

3. The MACD histogram continues to shrink, bullish momentum significantly wanes, high-level volume-price divergence, strong short-term correction needed

4. Yesterday’s bearish engulfing pattern indicates a pullback after a rally, bulls lack strong buying interest, selling pressure continues to release

4-hour Chart (Short-term Rhythm)

1. Break below short-term moving averages, shifting from strong to weak in the short term, dominated by bears, with obvious resistance on rebounds

2. Falling volume on declines, decreasing volume on rebounds, weak buying support, continuing a weak oscillating pattern

3. 80,000 is the short-term support/resistance level; holding above suggests oscillation and recovery, breaking below indicates further decline

2. Key Precise Levels

• Strong Resistance: 80,500 → 81,000 → 81,500 (Bollinger upper band strong resistance)

• First Support: 79,300 (intraday low) → 78,000 (daily key defense) → 77,700 (trend lifeline)

3. Full Intraday Trading Strategy

🔻 Short-term trend-following short positions (priority strategy)

• Entry: Gradually short on rebounds between 80,300–80,800

• Take profit: First target 79,300, second target 78,000

• Stop loss: Above 81,200

🔺 Steady low leverage long positions (only if stabilized)

• Entry: After retesting 77,700–78,000 and confirming bullish reversal, go long

• Take profit: 80,000 → 80,800

• Stop loss: Below 77,200

⚖ Conservative wait-and-see strategy

• Observe between 79,300–80,000, avoid chasing shorts or bottom fishing

• Wait until above 80,000 for recovery; if breaking below 79,300, look for short opportunities

4. Risk Control and Market Outlook

1. Intraday likely to see weak oscillations with slight declines, a large upward surge is highly unlikely

2. Holding above 77,700 indicates a healthy correction; breaking below suggests trend weakening and opens downside space

3. Market panic sentiment is rising, mainstream coins are more volatile, strictly reduce positions, set stop losses, avoid holding large positions overnight