Intraday market trends are similar to what I explained in my morning live broadcast. Bitcoin continues to decline, testing support at around 79,000, forming a certain support structure. The rebound also perfectly reaches our expected oscillation top. Currently, it is in the stage of probing the oscillation top, and there is still a possibility of new highs and lows in the future. Ethereum's movement is basically the same as Bitcoin's. After testing and breaking below 2,250 with no additional volume, it was resisted at 2,240. The rebound reached around 2,270, which is also a bearish resistance level mentioned earlier. The rebound has now shown a certain top-bottom reversal, with the bears dominating. In terms of operation, just follow the trend.

Looking at the current market, the short-term support on the daily chart is still at the midline level of around 79,000. Intraday pullbacks are still showing a false breakout and rebound pattern. The current correction is weak, with bulls shrinking in volume. This kind of market has not formed an effective bottom support pattern but is seeking to suppress through rebounds. Combining with the four-hour chart, the bottom's operating range has all tested and been resisted at the 120-day moving average. Indicators also show overbought or oversold conditions, but the intraday rebound cannot break the high during the midday oscillation. This pattern will form a rebound after a bottom test, with yesterday's high adjusted to the low, and today's rebound recovers nearly half. Such a correction method is still a buildup for the bears. Continue to maintain a bearish outlook in operation.

Bitcoin can be shorted in the range of 79,600-80,000, with a focus on 78,000 if it breaks below 79,000. Ethereum can be shorted at 2,255-2,270, with a target of 2,200. #Gate广场五月交易分享 $BTC ‌$ETH ‌