Good morning☀️ I am Oupeng. Today is the morning of May 5, 2025. Since the end of April, BTC has shown a strong downward trend after a significant fluctuation on the daily chart, with the current price hovering around 94,000.

Looking at the hourly level, Bitcoin has experienced a slight rebound in the last two hours, followed by another rapid decline, and is still in a relatively low price range overall.

If we switch to the four-hour level to observe the trading volume during the New Moon, there is a "huge volume gap" below the price. If it breaks down again, the resistance below will become very small, and the decline will accelerate.

If it continues to fall, where will it drop to? From the trading volume, we can clearly see that the first support position below is at 88,000 dollars, and the second support is at 85,000 dollars. If it breaks down again, it will test 74,000 dollars.

Personally, I believe the bottom this year is 74,000 dollars, and a bull market will start in the second half of the year.

Now, from a technical indicator perspective, the MACD currently shows above the previous few trading days,

but it is still in the negative range, lacking momentum, and the downward trend is evident.

The RSI has begun to gradually rebound from the overbought area but is still below the midline.

The 4-hour moving average also shows that the current price has dropped to the EMA60 moving average and encountered resistance. The 1-hour level indicates that the price has broken below the moving average and is in a downward trend. It is now in a rebound phase, and for short positions, I suggest opening at a high point again or opening a position if it breaks down again, as this signal is clearer.

Given that the larger trend is clear, I recommend using small leverage or strategies to short, such as grid trading, CAT, or Martingale.

This is my interpretation of Bitcoin, offering insights for your reference. Feel free to join our community, and don't forget to like and share to support us.

Goodbye~