#Gate广场五月交易分享 Bitcoin dips below the 79,850 USD low again. Where can it drop to for a safe bottoming opportunity?

Today, Bitcoin once again declined, heading toward the previous low of 79,850 USD. Recently, every time it approached the resistance level of 81,330 USD, it quickly pulled back. Many people are wondering: despite support in the market, why can't it rise steadily? Will it continue to decline later? Where is the real bottom for buying?

On May 6th, the first attempt to surge to 83,500 USD failed and pulled back; on May 11th, the second attempt to break through also failed. After two failed attempts at a top, the market immediately formed a double-top pattern, and the trend started to weaken, gradually testing the previous support levels. Now, many are probably most concerned with this question:
Will Bitcoin continue to go lower?

Tomorrow, the vote result on the "Transparency Act" will be announced. Bitcoin's price has been fluctuating within a narrow range today, trying to test the previous lows. If the bill passes, it could become a short-term catalyst to push Bitcoin's price higher. Long traders should be alert—there's a good chance to profit, while short sellers should be cautious and lock in gains.

Deep technical analysis of the trend
Although the cryptocurrency market has been sluggish this year,
it has been gathering strength,
and once an explosion occurs, it could rise to new heights again,
mainly referring to Bitcoin,
and this bill might be the spark that ignites the rally.

Looking back at Bitcoin's long-term value helps understand the logic:
In 2009, Bitcoin was only $0.0008, holding for ten years until 2019, when it surged to $14,000; from 2019 to 2025, the peak even reached $126,000, roughly 880k RMB.

Currently, Bitcoin is still in an overall upward structure, with the price firmly above the 50-day and 100-day moving averages. The moving average support is concentrated around 76,800 USD. It remains in a healthy trading zone. The daily RSI is close to 61, indicating ongoing bullish momentum, but not overbought or overheated; MACD shows slight negative values, just indicating weakening upward strength, not a trend reversal or major decline signal. The only shortcoming is that the price is under pressure below the 200-day moving average.

Key resistance levels (from bottom to top):
1. First resistance: 82,100 USD (strong pressure at the 200-day moving average)
2. Second resistance: 83,500 USD (double top high point, 61.8% Fibonacci resistance)
3. Third resistance: 84,410 USD (horizontal key resistance line)
Once this resistance zone is broken smoothly, the next target is the previous high of 97,925 USD, fully opening the bull market.

Key support levels (for bottoming reference):
1. Short-term first support: 79,850 USD (psychological level)
2. Mid-term second support: 78,960 USD (50% Fibonacci retracement level)
3. Strong support zone: 76,730–76,420 USD (50/100-day moving averages)
4. Golden bottoming zone: 75,680 USD — this is a major capital demand zone, and pullbacks here are excellent buying opportunities.

Whether for short-term contracts or long-term spot holdings, always keep an eye on key supports and resistances, avoid blindly chasing highs, and don’t panic sell.

The above is only personal opinion, for reference only!