5.8 Afternoon Analysis and Follow-up Operation Reference

Only those who can endure loneliness can maintain prosperity. The same applies to K-line patterns and life. The market has experienced a restorative rebound. Bitcoin dipped to a low of 79,100 yesterday and gradually moved upward, currently reaching a high of 80,641. The momentum is following suit, rebounding to around 2324. Our early prediction of the rebound strategy was fulfilled as expected; although the upward move was not large, it did not affect the overall rhythm. The current rhythm is very clear—when encountering a pullback, confidently add to long positions; the bullish trend remains unchanged, and Saturday’s strategy still focuses on buying on dips.
From the overall market perspective, after the daily chart closed with a small doji candle following a pullback, yesterday’s candle was a small bullish doji. The price did not break new lows and gradually recaptured previous losses. Short-term volume is somewhat insufficient, and the pace is slow, but it is part of a sideways consolidation structure, in a phase of accumulation. Recently, the bulls are clearly dominant; daily-level pullbacks are mostly reflected as small bearish candles, lacking sustainability. Overall, the selling pressure is not strong enough to reverse the situation, mainly causing a slowdown and correction of the upward trend. The market currently needs to rest and gather strength, which also provides a solid support platform for the bulls. Regarding the future, Lao Lu believes that reaching new highs and continuing upward movement remain highly probable.
Operation Suggestions
Bitcoin: Buy around 79,700–79,500, target 81,000–81,500
Momentum: Buy around 2,300–2,280, target 2,360
$BTC $ETH