5.18 Bitcoin Midday Analysis

The early-session weakness continued. Bitcoin dropped from the dip to the 76,666 area, and then continued falling to 76,534. Earlier today, we suggested placing short positions around 78,000; the price reached the target level of 76,500. Although the bearish expectation was met, unfortunately, the strength of the morning rebound did not reach our planned entry point.

From a technical indicator perspective, the daily chart shows three consecutive bearish candles breaking through the midline, putting further downward pressure. The previous swing high is clearly being resisted, and the market is currently in a phase of a short-term pullback and adjustment. On the four-hour timeframe, the moving averages are arranged in a bearish alignment, indicating that the short-term trend remains weak. The trading suggestion is to follow the trend—focus on high-sell (shorting) setups—and do not blindly try to catch the bottom to go long.

Trading suggestions:
Short around 77,500-78,000, with targets at 76,500-76,000.#加密市场下跌15万人爆仓