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# Bitcoin
Today’s analysis and thoughts on the 5.18 market
Intraday resistance: around 78,200
Intraday support: around 76,700
After failing to rebound above 78,500, a solid bearish candle was formed, pushing down. The previous consolidation near 78,000 has been broken through, indicating that the bears are not testing but actively suppressing; now the low has reached around 76,660. Although there hasn't been a sharp drop recently, the candlestick closes near the lows, showing that the bulls' support is not strong enough. This kind of structure suggests it’s not the time to rush into a bottom, but more of a low-level correction after a breakdown. Currently, around 77,100 is just a correction after a sharp decline, not a reversal. Unless it re-establishes above 78,000, the trend remains favoring the bears.
Bitcoin short around 77,500-77,800. Support at 76,600, break below that targets 76,000.