5.3 Saturday, Latest Bitcoin Market Analysis

BTC surged again to around 97800 after yesterday's non-farm data. The non-farm data was released at 177,000, which is lower than the previous value but higher than expected, perfectly aligning with the trend of rising first and then falling. Rain Mo continued to observe the pullback of the big coin in the early hours, overall it looks quite good.

The daily candlestick for the big coin shows a shooting star, indicating that the upward trend in the price ratio is encountering resistance, with signs of pressure. On the four-hour level, both bullish and bearish candlesticks have elongated upper shadows, indicating insufficient upward momentum for bulls. The big coin failed to stabilize effectively after the surge, and the trend has undergone a change. In a smaller structure, the big coin has already entered a downward trend, with the arrangement of candlesticks showing a continuous downward pattern. In the future, we anticipate a pullback in the price ratio, with the big coin range set around 97000-97400 for taking positions, aiming for around 96000, while the other asset is set around 1860 for short positions, aiming for around 1810.

Lastly, with the weekend and the May Day holiday, the US stock market is closed and the market is mostly volatile, so it's advisable to relax a bit and take a break.

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