5.10 Saturday, Latest Bitcoin Market Analysis

In the early hours, the Bitcoin market has not changed much, with a rebound yesterday peaking at around 104300 before the price entered a period of consolidation. After multiple attempts to retest without reaching the 102000 level, it has halted its rebound, resulting in back-and-forth movements between bulls and bears, maintaining a range-bound operation. Currently, it is around 102800. Today is Saturday, and there is a high probability that the consolidation will continue.

From the current structure, the overall contraction space lacks a certain degree of continuity. Once the decline enters a stagnation phase, there is a high probability of further upward movement and breaking new highs. Looking at the recent market trends over the past month or so, it is often observed that during periods of stagnation or slow movement, there tends to be a significant degree of reverse movement. Therefore, in the short-term structure, while there are retests accompanied by rebounds, on one hand, the decline has halted, showing a relatively obvious resistance to falling. Thus, for the morning, maintaining a low buy and high sell strategy within the range is advisable.

Operate around the 92000-95000 range!

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