5.22 Bitcoin Morning Market



Recently, the overall market volatility has been limited, with the trend continuing the previous sideways consolidation pattern, repeatedly rising and falling back, then rebounding again. In the early hours, the price rose to 78,000 and is now fluctuating around 77,500.

The current decline structure is complete, and the rebound has not broken through the key resistance. From the 1-hour chart, the KDJ three moving averages have already turned downward, the MACD bullish momentum histogram is gradually weakening, and the dual moving averages are showing a downward trend. The bullish momentum is insufficient, and the bearish pattern remains unchanged.

Trading suggestion: Short near 78,000-78,500, targeting around 76,800-70,000.
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