5.20 Bitcoin Morning Analysis



Yesterday, Bitcoin's overall trend was weak, with bulls unable to mount a strong counterattack. After a rebound, it encountered resistance and stalled, with a slow upward pace, and it was unable to break through key resistance levels above. The overall movement was sideways with a bearish bias.

From a technical indicator perspective, the daily chart remains under continuous pressure from moving averages, with insufficient buying momentum from the bulls, and a bearish trend has already formed. The 1-hour KDJ indicator's three moving averages are turning downward to form a death cross, indicating a bearish trend. Multiple resistance levels above are layered and pressing down, completely limiting upward space. The outlook is mainly bearish in the later stage.

Trading suggestions:
Short near 77,200-77,500, with targets at 76,000-75,500.
BTC0.83%
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