5.8 Evening Bitcoin🫓 Market🍜 Poetry Viewpoint High resistance at elevated levels—don’t chase!

Bitcoin surged in the evening to 82828, then met resistance and pulled back; it is currently consolidating around the 80000 level. Earlier upward momentum has clearly slowed down. After the bulls encountered resistance at high levels, market sentiment gradually cooled. In the short term, the focus of both bulls and bears has begun to shift downward, and the rhythm has moved from one-sided rising to high-level correction.

From the 4-hour cycle perspective, after the price brushed against and reached above 82800, it repeatedly closed with corrective candles. The short-term moving averages have turned downward, and sustained sell pressure at high levels continues to be released. The MACD indicator’s red histogram bars have been continuously shrinking, while the fast and slow lines are leveling off at high levels—bearish momentum is gradually taking the lead. The key overhead resistance is concentrated in the 81500-82000 range. This is the lower boundary of the prior uptrend platform and a strong resistance zone for the evening rebound. Support below lies in the 79000-79500 range; this is the market’s recent equilibrium area. Once it breaks, the space for short-term correction will open further.

Bitcoin suggestions:
If price taps the 81500-82000 range from above, consider lightly entering a short position, with targets at 79500-79000; if it breaks through, then go along with the move to look for further extension;
If price pulls back to the 79000-79500 range and stabilizes, you may try a short-term long to catch the rebound, with targets at 80500-81000—focus on quick entries and quick exits.
$BTC $GT $ETH
#比特币跌破8万美元
#稳定币储备下降
#ArthurHayes看好山寨币