🍊5/10 Midday Bitcoin Market Outlook

In terms of market trend, Bitcoin initially surged to 81,631 and faced resistance, then pulled back. After testing the support at 80,378, it rebounded again and broke through that level, but faced resistance near the previous high and pulled back. Currently, the price has fallen back below 81,631, indicating that the bullish momentum is weakening.
The hourly chart has preliminarily formed a double top pattern. If it cannot break through the previous high again, a triple top will form, which is a strong bearish signal.
The key short-term observation is the validity of the 80,378 support: holding this level will keep the market range-bound between 80,378 and 81,631, with the possibility of testing the previous high again; if it breaks below this support, the flag pattern will break, and the price could drop to 79,190 support, which has been tested multiple times and has weakened significantly, increasing the risk of further decline.

Trading Suggestions
Enter long positions after volume confirms a steady breakout above 81,631
Enter short positions if the price drops below 80,781 with volume and fails to recover, with strict stop-loss
If the hourly chart stabilizes above 81,631, target 82,477 → 83,624
If the 4-hour chart breaks below 80,721, target 79,570 → 78,693
$BTC #Gate广场五月交易分享