Bitcoin (BTC) Market Analysis on May 7

1. Key Levels

Resistance Zone: $96,200-$96,700, if the rebound does not break through, consider shorting with a light position, target $95,200-$94,500.

Support Zone: $93,800-$93,500, if it stabilizes and forms a lower shadow, consider trying a short position, stop loss below $93,000, target $95,000.

2. Trading Strategy

Short: Enter with a light position in the $96,200-$96,700 range, stop loss at $97,000, target $94,500.

Long: Try a light long position near $93,800, stop loss at $93,000, target $95,200-$95,500.

Currently, bears are dominant, it is recommended to focus on shorting; if there are favorable policies or a rebound due to overselling, consider light long positions based on trading volume and the MA60 moving average.

A break below $93,500 or accelerated decline towards the $90,000 level.