5.14 Morning

Thought Process Analysis:
Bitcoin completed a sharp decline near 78,700 last night, then experienced a recovery rebound in the early morning, indicating there is still some support around 79,000 below. Currently, the overall market is in a consolidation and correction phase after a major decline, with short-term bears having released some pressure, but the resistance zone for a rebound remains at 80,500-81,500. On the news front, US PPI data exceeded expectations, causing the dollar and US Treasury yields to strengthen, which temporarily suppresses risk assets; however, Bitcoin did not continue to fall sharply after breaking below 80k, indicating that funds are still supporting the low levels, and the market is awaiting further regulatory and Federal Reserve-related news to materialize.
Overall, it is not advisable to chase short positions at low levels in the morning. Focus on the support zone of 78,500-79,000. If the pullback does not break below, there is still a chance for a corrective rebound, with the first target at 80,500 and further at around 81,500.
As for Altcoins, last night they followed Bitcoin’s rapid decline, rebounding after approaching near 2,230 at the low. This indicates that some short-term bearish sentiment has been released. Currently, Altcoins are still in a weak correction phase, with resistance around 2,290-2,350, but there is also support around 2,220-2,240. On the news front, Altcoins have recently been heavily influenced by overall risk asset sentiment and on-chain selling pressure, leading to increased short-term volatility. However, if they stabilize around 2,220-2,240, there is still a chance to recover toward 2,290 and 2,350 zones.

Trading Suggestions:
Bitcoin: Buy on dips near 78,500-79,000, target 80,500 and 81,500.
Altcoins: Buy on dips near 2,220-2,240, target 2,290 and 2,350. #特朗普5月13日访华 $BTC $ETH