$BTC BTC Analysis of BTC Trading Strategies on May 7

Market Condition

Price Range: The current price of BTC is $96,500-$97,000, and the 24-hour increase rate is 2.94%. Short-term support/resistance levels reference:

Support: 95,500 (EMA30 support), 94,000 (pivot point), 93,500 (major support)1,3,10](@ref)

Resistance: 97,500 (Fibonacci 78.6%), 98,500 (previous peak area), 100,000 (psychological level)

Technical Indicators:

RSI: 76.04 (overbought zone), MACD chart continues to expand

Bollinger Bands are expanding, and the price is near the upper limit

Money Movements: A net inflow of $30.6 billion in Bitcoin ETF last week, the highest level since December 2025.

Logic for Executing Buy Strategy

Support Confirmation

The 95,000-96,300 area overlaps with EMA30 and Fibonacci retracement level 0.618, and technical support is relatively strong.

Money flows into ETFs continue, with institutional holding costs focused in the 94,000-95,000 area

Stop Loss Setup

Stop loss at 94800 (below the daily EMA30 support line), to prevent extreme conditions from breaking the major support

Logic for Executing Short Selling Strategy

Resistance Pressure

97,500-98,100 is the resistance range for options + Fibonacci retracement level 78.6%, with historical density for stop positions

The funding rate for derivatives has increased to 0.03% (sharp increase in long positions), and the net currency flow on the exchange for one day was 12,000 BTC

Stop Loss Setup

Stop loss at 98250