May 11th BTC Afternoon Market Analysis

In the morning, Bitcoin surged all the way up to 82,500 then encountered resistance and pulled back, with the price falling back to the 80,500-81,500 range for narrow fluctuations. After a round of gains in the morning, our long positions from yesterday were perfectly closed for profit, followed by a short-term short covering of 500 points. Currently, the decline has paused, and we continue to look for a rebound in the afternoon.

On the four-hour chart, the price broke below the short-term upward trend, with moving averages flattening and forming short-term resistance, indicating insufficient bullish rebound strength. The MACD indicator's bearish momentum is slowing down, showing signs of technical correction. The Bollinger Bands are narrowing and flattening, with obvious range-bound characteristics. The core support below is 80,500; a break below could target 79,500. The short-term resistance above is 81,500; a breakout could see a move toward 82,500.

My personal view on Bitcoin in the afternoon is to consider long positions around 80,300-80,500, with a stop loss at 79,400, and to strictly control position sizes in the 81,500-82,500 zone, while doing a good job of risk management. $BTC