#加密市场回调 #BTC#Bitcoin Market Trends#Cryptocurrency Analysis#Impact of Non-Farm Data#Crypto Circle Dynamics#Blockchain Discussion

Analysis of Market Conditions on the Afternoon of May 5

Technical analysis shows that the daily chart has closed with two consecutive bearish candles. The morning closing formed a long upper shadow and a long bearish candle, indicating that bears dominate on the daily level, and the short-term trend is weak. At the same time, the moving average system is declining, and the MACD indicator has shown overbought signals and is likely to form a death cross, suggesting that the risk of a major downward trend remains.

From the 4-hour chart, after a price surge followed by a decline, Bitcoin has consistently broken below the lower Bollinger Band. Although it is fluctuating within a range, the short-term performance is weak. Currently, attention should be focused on the support levels of $940 and $930; if these are effectively broken, downward space will open up. Before breaking key support levels, it is recommended to adopt a short-term strategy of selling high and buying low, while also paying attention to the strength of intraday rebounds.

The KDJ indicator shows a death cross expanding downwards, and the MACD double lines and histogram are trending towards forming a death cross, with trading volume gradually increasing, maintaining a bearish pattern on the daily chart.

Last week, spot ETF funds continued to flow in, limiting Bitcoin's decline. Non-farm data exceeded expectations, pushing prices to a ten-week high, but the Federal Reserve remains resolute on high interest rates, and other economic data has shown poor performance. Therefore, the operation still focuses on short positions at highs, with close attention to market trends and changes in key support levels.