Bitcoin Market Trend Analysis 20250504 - Day 595

The daily line is a small bearish candle, and the bearish candle's body does not exceed the bullish candle's body from the 1st in general. Today's trend is very critical; if it continues to decline, and if the two bearish candle bodies exceed more than half of the bullish candle body from the 1st, it will form a short-term top pattern, and then the price will need to decline further.

From the momentum trend perspective, this wave is a rebound driven by 4-hour level bullish momentum. Currently, it has returned to the 2-hour EMA 52 support level, forming a weak rebound. If the 2-hour level cannot hold, it will need to return to the 8-hour EMA 52 line for another rebound, with the price around 92400, a decline of approximately 3%, which is not significant.

However, for altcoins, especially those with relatively large gains, if Bitcoin falls rapidly, altcoins will experience a considerable decline, so it is necessary to pay attention to the decline of altcoins caused by Bitcoin's drop.

Daily level resistance at 99700-102044, support at 94765-91680-88950