🥛5/26 Midday Bitcoin Outlook


Bitcoin's current rebound peaked at 77,887, just 200 points below the key resistance at 78,100, which caused it to face selling pressure and pull back. This level has become a deadly obstacle for the short-term bulls. The market retraced and directly broke below the support at 77,287, completing a shift from support to short-term strong resistance.
Currently, Bitcoin still has the potential to consolidate and surge again; but to restart the rally, a volume-driven breakout above the strong resistance at 77,287 is necessary. The overall market has been trading within a long-term oscillation range of 76,000–77,887. If this range remains unbroken, sideways consolidation will continue; a break below will trigger a trending market.
Trading suggestions:
Break above 76,878 with volume and go long on the right side,
After hourly stabilization, target a rebound to 77,888–78,560; if unable to hold this level, the rebound momentum is insufficient,
Break below 76,110 with volume and fail to rebound, go short on the right side with strict stop-loss;
On the 4-hour chart, a valid break below 76,092 targets a decline to 75,367–74,200.
BTC-0.5%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned