Reviewing the intraday market, Bitcoin's price overall showed a rebound early in the session, testing key resistance levels. As the intraday consolidation continued, further probing of the critical resistance at 81,200 occurred. In the evening, it faced downward pressure and fell back, briefly breaking below the 79,000 level. Currently, it remains around 79,500 in consolidation but has already formed a weak structure. Ethereum's movement is largely consistent with Bitcoin's, with a strong recovery in the early session, but it faced resistance near 2,320 and retreated. As the price further adjusted and broke below 2,250, it showed a relatively strong support structure. It has now recovered back to around 2,260 for consolidation. For our intraday trading plan, Bitcoin has re-entered the 1,900-point profit zone, while Ethereum has taken a total profit of 75 points.

The daily chart shows three consecutive bearish candles, breaking the previous three bullish candles' recovery. The lowest correction has touched near the middle band, forming a long lower shadow. This market is still in a relative correction phase and has not given a clear breakdown signal. However, the trend has gradually shifted from bullish to bearish. In the short term, before a substantial break in China, the bulls still have some momentum, so avoid overly aggressive shorting. Key resistance levels for the rebound are after observing the highs and lows; consider short positions only after confirming a top-bottom reversal. Looking at the 4-hour chart, after a large bearish candle correction, a bullish recovery occurred, with the price again approaching the previous key resistance at around 79,800, which has encountered some resistance. Going forward, watch whether the key resistance at 79,800 to 80,000 forms a secondary top-bottom reversal to shift the trend to bearish. The key support at the bottom remains near the 120-period moving average, around 79,000. Only a substantial downward break of this level would open further downside space. The 120-day moving average is linked to the middle line of the daily chart; only after breaking this can we further pursue short positions. In the early morning, the strategy remains to favor rebounds and mainly look for short opportunities.

Bitcoin can be lightly shorted in the 79,800-80,000 range, targeting around 78,000. Ethereum can be shorted near 2,280, with a target around 2,200. #Gate广场五月交易分享 $BTC ‌$ETH ‌