Crypto Circle Mr. Coin: 5.16 Bitcoin (BTC) Market Analysis Reference

The market for Bitcoin has pulled back after a rally during the day, influenced by news sentiment, and continues to decline.
Currently, support has moved down to near the middle of the daily moving average line, the 80k level has been broken, and a short-term rebound occurred around 79,200, with the lowest dropping to 78,610.
Looking at the short term, the 1-hour, 2-hour, and 4-hour charts all show bearish dominance!
The price has already broken below the middle band of the Bollinger Bands, MACD has formed a death cross with increasing volume, and KDJ remains at low levels.
The short-term bearish trend is not over yet; a "left-side knife" is just giving away heads!
On the daily level, the bullish trend has not been completely dead; the price is still above the middle Bollinger Band, but the MACD red histogram has turned green, and KDJ is turning downward, clearly indicating that bullish momentum is waning.
The critical support level is at 81,000; only if it holds can there be a chance to return to a bullish trend.
Below, support is at 77,300; if broken, this correction could head toward 76,000!
Market funds are holding 8.1 billion, with a net inflow of 80k, but this is passive absorption during a decline, not active buying!
Currently, market sentiment is panic selling, providing a bottom-fishing and shorting opportunity.
For defense, set at 81,800; target directly at the previous low of 78,600!
Operationally, it is recommended to rebound and then go south, and consider northward movement after support stabilizes.
Follow Mr. Coin for real-time market analysis.
5.16 Bitcoin short-term reference:
Southbound in the range of 80,500-81,500, with defense at 83,500, stop loss 500 points,
target below 80,000 heading toward 76,000-77,500;
northbound above 78,500, stop loss 500 points.
Message sending may be delayed; strategy suggestions are for reference only.
Market changes rapidly; no matter how confident you are in your judgment, always set proper take-profit and stop-loss orders.
Secure your gains. #Gate广场五月交易分享 #CLARITY法案参议院通关 #Polymarket每日热点 #比特币V型反转 $BTC #$GT $ETH