Analysis for the evening of May 8th

The 15-minute price level encountered resistance near 80,478 and pulled back, with the upper Bollinger Band clearly acting as resistance. The current rebound is only a technical correction after a sharp decline and has not formed an effective breakout. More importantly, there is strong multiple resistance above BTC in the 81k-82k range: on one hand, this is near the starting point of the previous large drop, where many trapped positions are gathered; on the other hand, it is also an important area of high trading volume on the daily chart, with very concentrated selling pressure. Under these circumstances, even if data falls short of expectations and causes a brief rebound, the price will find it difficult to break through this range and open new upward space, instead quickly facing resistance and pulling back.

Therefore, this rebound is not a trend reversal signal, but rather provides a better entry window for bears — allowing them to establish short positions at higher prices and set more reasonable stop-loss levels based on strong resistance, which is much better than chasing shorts at lower levels. The long positions I mentioned in the morning and afternoon have already exited the range, and it’s not suitable to go long now. If the rebound reaches around 80,500-81,200, you can try to go long, with targets around 79,200-78,500. Tonight’s volatility is quite high, so everyone should control their positions carefully. #BTC #ETH #BTC走势分析