5.12 Afternoon Analysis

In the afternoon, the Bitcoin chart is in a narrow range after a sharp rebound and pullback, currently trading around 812. The 1-hour Bollinger Bands show a clear convergence trend: the upper band is turning downward toward 820, the middle band at 814 is providing short-term resistance, and the lower band at 807 is steadily rising, offering support below. Overall, the bullish and bearish forces are temporarily balanced.

In the morning, Bitcoin surged and then pulled back, quickly releasing the bullish and bearish divergence between 820 and 806; in the afternoon, it consolidated with reduced volume, oscillating around the middle Bollinger Band. The upper band’s downward pressure has increased, while the lower band’s support remains solid. In the short term, it is likely to fluctuate between 80,800 and 81,700, waiting for a direction to be chosen.

The current narrow fluctuation in the market essentially indicates that the main force is wearing down retail traders’ patience—neither breaking below key support to induce a trap nor breaking above resistance to induce a rally. Position management is always the top priority. Do not let the oscillating market disrupt your rhythm; patiently wait for a breakout of the range before following the trend.

Trading suggestion: Buy at 80,200-80,700, target 82,200-82,700.