5.9 Luo Yi Evening Bitcoin Analysis

Bitcoin at high levels faces pressure, short-term trend remains bearish

Market trend analysis

Bitcoin current price is 80,500, with slight intraday fluctuations and continuous shrinking of trading volume. The upward momentum at high levels is clearly weakening, repeatedly hitting resistance without the strength to continue the rally. Currently in a high-level stagnation and correction phase, with obvious resistance above. The bulls lack the willingness to break through upward, and the short-term downward pressure gradually becomes more apparent. The overall market trend is leaning towards weak consolidation.

Market logic analysis

After continuous rallying, the momentum is exhausted, and a clear resistance pattern forms at high levels. Multiple attempts to break above key levels have failed, and bullish sentiment is cooling down gradually. It is not suitable to blindly chase the rally at this stage. Instead, the signals of resistance at high levels are becoming more obvious. The short-term overall pattern is leaning towards sideways weakness. Maintain a mainly bearish outlook on rallies, relying on strong resistance zones above. As long as the pressure levels are not effectively broken, the high-level short position rhythm remains, and opportunities for pullback waves should be seized accordingly. Do not rush to bottom-fish for longs.

Real-time short-selling advice

In the 80,800—81,200 range, gradually establish short positions, with a stop loss at 81,800, first target at 79,800, second target at 79,500, and further downside targets around 78,800. $BTC $GT $ETH #Gate广场五月交易分享 #BTC重返8万 #韩国加密征税倒计时