5.14 Midday Market Analysis$BTC $ETH $BNB

The previous triangle structure of Bitcoin briefly broke downward, testing the key support at 80,500, then quickly rebounded to shake out traders, with the lowest dip reaching 78,700 to complete a phase of bottoming; this decline is a typical trap set by the main force to shake out bears, not a sign of weakening trend. After the pullback, the market did not continue to weaken but instead entered a low-position accumulation and bottom-building phase. Currently, it is in a consolidation stage after a correction, with bulls quietly accumulating at the bottom, waiting for the momentum to build up for an upward reversal.

After the price bottomed out, it quickly rebounded and broke above the short-term resistance at 79,500, which is also the dividing line between short-term bulls and bears. Whether the market can stabilize and reverse depends mainly on whether this level can hold as support. As long as the 79,500 support holds, the market will gradually stabilize, and the bullish attack will gradually resume; even if there is a slight short-term pullback, it is unlikely to weaken significantly again. Once the key support at 78,700 is tested and held multiple times, the hourly correction phase will come to an end, and the bullish trend is expected to re-emerge, initiating a rebound and recovery phase.

Currently, the overall larger cycle still maintains a bullish tone. The short-term pullback is just a healthy correction and shakeout, and buying on dips remains the main strategy.

Trading Suggestions

Buy in batches in the 79,000-79,500 range with targets around 81,000-82,000; if broken through, look for 83,000.

Buy in batches in the 2,240-2,260 ETH range with targets around 2,300-2,340; if broken through, look for 2,400.