Reviewing the market movements since early morning, Bitcoin has been trending downward after yesterday's US session volatility, with a low wick reaching around 78,713. It then rebounded slightly to around 79,300 and has been consolidating at a low level. In the early hours, the price briefly tested near 79,600 but faced resistance, and now it has fallen back to around 79,300, showing a weak oscillation pattern after a bottoming process. The rebound strength is very limited, with bulls and bears repeatedly tugging within the 79,000-79,600 range. Currently, the market is in a phase of further oscillation, with the strength of bulls and bears fluctuating. The long positions I mentioned in my live broadcast early this morning also rebounded as expected to the target levels, and the high-position short positions are now in floating profit.

From the daily chart perspective, three consecutive bearish candles have completely engulfed the rebound space of the previous three days, and the price has returned to the middle band of the Bollinger Bands around 79,060, fighting for control. The moving average system shows that the MA30 remains as medium-term support below, while the MA7 has turned into short-term resistance. Although the bears are currently dominant, they have not effectively broken below the middle band. The 78,000-78,500 zone below is a key area of multiple top-bottom reversals; as long as this zone is not broken, the downward momentum will not extend significantly. On the four-hour chart, the trend is more visually clear: prices have been falling from around 82,500 with consecutive bearish candles, MACD shows a dead cross with increasing volume, and KDJ has entered oversold territory, indicating that the short-term downward momentum has been somewhat released. The current price is just near the lower Bollinger Band, with a lower shadow appearing, and the short-term rebound has formed a certain top and bottom. The overall market remains dominated by the bears, and future operations should mainly follow a bearish outlook.

Bitcoin can consider shorting in the 79,500-79,800 range, with support around 78,000. Ethereum can consider shorting in the 2,260-2,270 range, with support around 2,230-2,200. #Gate广场五月交易分享 $BTC $ETH