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5.7 Bitcoin Analysis
The overall bullish trend of Bitcoin remains strong, with the daily chart continuously closing higher and holding above key support levels. Spot buying sentiment is warming up, and institutional funds are continuously flowing in, supporting the market. The overall market pattern is inclined towards oscillating upward.
In the short term, the market remains consolidating at high levels, with weak pullback strength, typical of a bullish accumulation phase. It is not recommended to chase longs at high levels; patiently wait for a pullback to the support zone before gradually adding long positions. Pay close attention to the key support below.
Trading suggestions:
Buy around 80,400, target 82,000, stop loss 79,900.