5.8 Thursday Evening Bitcoin Analysis

Bitcoin is showing a weak consolidation pattern on the four-hour K-line, experiencing continued narrow fluctuations at low levels after a sharp drop. Although the moving average system remains upward, the rebound momentum is clearly insufficient, and multiple attempts to test resistance have all failed. Currently, while the trading volume has seen a moderate recovery, it is not enough to support an effective breakthrough. It is recommended to maintain a short-selling approach at highs, strictly control risks, and avoid blindly bottom-fishing for now, waiting for the market direction to be chosen.

Bitcoin is consolidating in the 996-998 range, looking down to the 983 range

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