5.12 Tuesday, weak downside—continue holding the low-level long

On Tuesday, the market for BTC was relatively weak. After the coin price spiked to the 82,100 area in the early morning, it continued to drift downward in a weak manner; the low has now come to the 80,100 area, where the decline has somewhat stalled. In terms of the overall intraday trend, the market is basically characterized by weak downside movement. In today’s approach, we still maintain a low-level long strategy. After noon, we entered a long near the 80,600 area, and the position is still being held.

For the current movement, although there is a certain amount of short-term pullback, the overall upward direction has not changed. The coin price is currently at the bottom area of the 4-hour Bollinger Bands. In the short-term rhythm, it is clearly more inclined toward consolidation. The main resistance is concentrated around the 82,500 area, while support is still at 79,500-79,000. If this zone is held in the short term, the market will still likely provide a rebound.

In the early-morning move, I personally expect a rebound, and the market will most likely return to the 82,000 area again. As long as the upward structure is not broken, the bullish view remains unchanged. $BTC