BTC Analysis: May 7, 2025 Daily Chart
Brothers, this surge in Bitcoin can be said to have been completely driven by news; the US and China are preparing to reconcile! Once the news broke, Bitcoin started to rise sharply, breaking through the consolidation range and reaching near the previous high point. However, the momentum from the news is not lasting, unless another piece of news comes to stimulate it! Sister Sheng has already shorted near 97200, aiming to continue back to the consolidation range!
In terms of trends:
From the perspective of smaller time frames, the short-term news impact broke through the consolidation range, but a small double top structure has also appeared here. After all, the momentum from the news may not last; if it goes down, we should pay attention to the high point support of the consolidation range near 95500. If it breaks down here, it is highly likely that it will continue to return to the consolidation range for adjustment!
