5.9 Luo Yi Midday Bitcoin Analysis: The Surge Can’t Hold Its Ground, and a New Round of Adjustment Is Coming

Bitcoin surges higher then falls back—can the bulls really not hold it? Let’s look at this!

This morning at the open, Bitcoin initially pushed up with short-term momentum, trying to test and withstand pressure at higher levels, but the upward move couldn’t continue. Then it quickly turned and pulled back, and overall the price action shifted from “pushing higher” to “gaining weakness,” with the bulls’ push clearly lacking follow-through.

Family members, the signal from Bitcoin’s early surge then pullback is already very obvious! The bulls completely couldn’t withstand it near 80250. Even though it briefly surged to 80641, it still couldn’t stand firm—followed by a rapid drop that left a long upper wick. This shows that the sell pressure above is truly too heavy, and the bulls are already running out of steam.

Indicators are releasing the same signals as well: the KDJ turns down from high levels, a death cross pattern has already begun to form, and the pullback pressure after being overbought is about to come; the ATR continues to fall, volatility is getting smaller and smaller—within high-level consolidation, the bears’ advantage is expanding step by step.

The current price has retreated to weak trading around 80150. This isn’t a build-up for a rebound, but rather a weak consolidation after the surge. If it can’t quickly reclaim above 80300 today, it will most likely begin a pullback. For support, first look at the 79800-79600 zone.

Here’s a very clear trading suggestion for everyone: look for shorts in line with the trend around 81000-80500, with targets at 79500-79000. Remember to control your position size—don’t be greedy. Just follow the rhythm! $BTC $GT $ETH #Gate广场五月交易分享