5.8 Xin Xin Bitcoin Midday Analysis

The early-morning Bitcoin “large pancake” short-term pullback looks like panic to many people, but to experienced traders who know what they’re doing, this is only the last “shakeout and strength-building” before the breakout.

From the order-book/price action perspective, after the K-line touched the 79,137 low point, it quickly stabilized and rebounded. The current price is oscillating around 79,477. It seems like a drop of 2.38%, but in fact this is a healthy pullback of the prior breakout move. The support below is strong in terms of absorption capacity, and there has been no panic sell pressure with an increase in volume.

The KDJ indicator has already turned upward after bending up from the oversold zone. The J value is leading the rebound first from the lows, and the K and D lines are also about to form a golden cross. This indicates that the short-term oversold condition has been repaired, and bullish momentum is gathering again. On the daily timeframe, the larger uptrend implied by the moving averages arranged in a “bullish” configuration has not been broken in any way. The Bollinger Bands middle-band support remains solid.

Many people are always afraid of pullbacks, but in a real trend market, pullbacks are actually the safest opportunity to get on board. This move—after the rapid dip to 79,137 and the subsequent rebound—has already completed the “cleansing” of short-term weak hands.

Don’t be frightened by short-term fluctuations. The big direction for the “large pancake” has never changed. This pullback is the final chance for people who haven’t entered yet to plan a position near the bottom. After the breakout above 82,000, anyone trying to find this level again will only be able to chase the price higher. Every pullback right now is a gift from the “bulls.” Catch this buildup phase, and the next leg higher—this is the real main rally.

Trading Recommendations:
Plan entries for the “large pancake” around 79,200–79,300, aiming for 80,100–80,300. Watch closely and control your position size.
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