5.8 Friday Midday Market Analysis

In the early trading session, the US-Iran conflict reignited, and market panic quickly spread, causing Bitcoin to drop sharply, with the 80,000 level officially broken.
Currently, the market has not fully reversed to a bearish trend, but the upward momentum has completely collapsed, and the overall market is extremely weak. Every rebound is an excellent opportunity to short, and following the trend with a short position is the only correct strategy at the moment. The weekly chart has rarely shown two consecutive down days, and the 82,800 level is essentially locked in as the current stage high. Whether a new high can be reestablished depends entirely on whether the support at 78,000 can hold. In terms of trading, first take profits from the full retracement with the trend, then observe as the market moves: if support breaks, add to the position for a wave short; if support stabilizes, then look for a bottom to buy the dip and aim for a rebound to a new high.
BTC Trading Advice: Short at 80,000-80,500, take profit at 78,800-77,500, stop loss at 81,200
ETH Trading Advice: Short at 2,300-2,320, take profit at 2,255-2,215, stop loss at 2,350#比特币跌破8万美元