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5.8 Bitcoin Midday Analysis
Bitcoin surged early but failed to break through, and was directly pushed down by the 80,000 level. The upper band of the Bollinger Bands has also started to turn and head downward. The short-term rebound lacks momentum, and the bears are likely to continue pushing. The market is currently relatively weak, so in terms of strategy, watch the 80,000 resistance level—if the rebound has no strength, open a short position accordingly.
Trading idea: Open shorts around 79,800-80,300, with targets at 77,800-78,300.