5.8 Thursday Morning Strategy for Bitcoin

The road to success is not crowded because there are not many who can persevere to the end. When you want to give up, please tell yourself to hold on a little longer, as often it is this little bit of persistence that brings you one step closer to your dreams.

The current market presents characteristics of a strong hourly breakout and a four-hour trend resonance. The technical signal chain indicates that bulls have taken control of the short-term dominance, but caution is needed for the pullback risks triggered by the momentum decay in the overbought zone and the pressure from key resistance levels. The hourly breakout pattern and momentum reinforcement with consecutive bullish candles: the price has broken through the Bollinger Band's middle line (97500) with five consecutive bullish candlesticks and has stabilized above the upper line (98500), with a maximum increase of 3.2% in a single bullish candlestick. The closing price at the breakout point (98200) has consistently remained above the upper line, validating the effectiveness of the breakout. The MACD double lines have accelerated divergence after breaking the zero line, with the height of the red bars increasing by 40% compared to previous highs, indicating strong momentum; the KDJ indicator's J line has entered the 90 overbought zone but has not shown a top divergence, with the K/D lines maintaining a 45-degree upward slope, indicating that the bullish dominance has not weakened. The four-hour trend confirms the continuation of resistance breakout and channel expansion: after breaking the key resistance of 98000, the Bollinger Band opens up (upper line moves to 99200), and the slope of the middle line turns positive, forming a trend resonance with the hourly level.

Chasing long positions directly at this level during the day is definitely unwise; cautious players can wait for a pullback before entering long positions, while those who can't wait can short at key pressure levels to make a profit on a pullback. Aggressive players can short between 98800-99200 and look down to 97000. If it breaks below 96500, they can reverse and enter long positions targeting 985000.