May 9th Bitcoin Outlook



1. Short-term moving averages turning: The 5-day and 10-day moving averages are starting to turn downward after flattening. If the price breaks below the short-term moving averages, a short-term downtrend will form.

2. Momentum indicators weakening: MACD shows death crosses or divergence signals at high levels, RSI falls back from overbought territory, indicating that upward momentum has diminished, and bearish forces are beginning to dominate.

3. Bollinger Bands under pressure: The price continues to operate below the middle band of the Bollinger Bands and fails to re-establish above the middle band, suggesting the short-term trend has shifted from bullish to bearish, likely seeking support at the lower band.

Trading suggestions: Watch for a rebound around 80,500-81,000
First target: 79,000
Second target: 78,000
$BTC #比特币跌破8万美元
BTC1.02%
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