🚀Market outlook for midday on May 9th.🚀

$BTC Viewpoint:
Bitcoin broke through the bullish flag pattern but has not yet broken above the resistance level at 80,376. To go higher, it must break through 80,376 resistance to look towards 81,667-82,790. Standing firm at 80,376 also indicates that this hourly-level correction is temporarily over and a rebound is about to begin. If this rebound can create new highs again, it’s like a villa by the sea. If this rebound fails to break previous highs and create new peaks, it will turn into a correction. Currently, as long as the pullback does not fall back into the bullish flag pattern, everything is fine. If it falls back into the pattern, it will need to retest around 79,168. Retesting 79,168 is likely to break down because support at 79,168 has been tested twice already. A support level that has been tested multiple times can hold, but the rebound cannot create new highs. When retesting this support, it often breaks down, possibly with a false breakdown that quickly recovers to drain liquidity below, or it might go down and never come back up. Therefore, whether it can break through the 80,376 support now is very important because it determines whether Bitcoin will stop falling and rebound or face resistance and fall back.

Bitcoin with volume breaking through 80,376 should be chased long on the right side; if it drops below 79,540 with volume and then recovers without reclaiming, chase short on the right side with good stop-loss.
If Bitcoin breaks below 79,156 on the 4-hour chart, look down to 78,229-77,303.
Upper resistance levels: 80,376-81,667-82,799
Lower support levels: 79,520-78,187-77,281.

$ETH Yitai Silk Road
Break through 2,317 with volume and chase long on the right side; stop-loss on recovery.
Break below 2,301 with volume and chase short on the right side; set stop-loss.

Retest 2,266 to confirm support is effective, add one position,
Break below 2,230 stop-loss.
On the hourly chart, stand firm at 2,317 and look up to 2,346-2,380.
Watch for 2,380 to give a short opportunity,
Break through 2,423 with stop-loss.
Left-side order insertion: buy at 2,218, stop-loss if below 2,175.
Upper resistance: 2,317-2,346-2,380
Lower support: 2,301-2,267-2,230
On the 4-hour chart, break below 2,305 and look down to 2,266-2,231.

Yitai broke out of the 2,303-2,267 consolidation zone and returned above 2,300, confirming support after breaking the consolidation zone and starting a rebound. As indicated by the red arrow, next is to see if Bitcoin can break through the 2,345 resistance. If it breaks through 2,345, there’s a chance to test the 2,390 resistance. If it retests and breaks below 2,300, it will return to the consolidation zone to continue oscillating, but as long as it doesn’t break below the consolidation zone, everything is fine.
$BTC $ETH