5.13 Bitcoin Morning Thoughts - Luo Yi Analysis

The bullish trend has not been broken, and a pullback is a bold opportunity to add to long positions.

Yesterday, Bitcoin attempted to surge several times but failed to break higher, showing overall weak volatility with clear resistance above. Fortunately, the 80,000 level held, and the decline was not significant.
Today, Bitcoin continues yesterday’s pattern of rising sharply and then falling back, remaining volatile at high levels with weakness. The price fluctuates between 80,500 and 81,200, with momentum slowing. Resistance at 81,800–82,400 is strong, and multiple attempts to break through were met with rejection and pullbacks.
In the short term, focus on the 80,000 support level; holding above it suggests a sideways upward move with testing of resistance. If it falls below 79,000, the correction will intensify, with the next support near 78,000. The long-term trend is supported by expectations of US-related legislation, but high volatility at high levels is evident. Intraday, it’s likely to test support first before observing the rebound strength.

Trading reference
Long entry: 79,700–80,200
Stop-loss: 79,000
Target levels: 81,800–82,400