5.14 Morning Market Analysis: Strong Buy
Last night, the US market saw a slight pullback, quickly testing the key support at 78700 before bouncing back swiftly to stabilize around 79300, entering a sideways consolidation phase.
This morning, bulls actively attacked the 79600 level but faced brief resistance before retreating. Overall, this is a classic shakeout consolidation—there's been no damage to the bullish setup.
Key points are clear:
Strong rebound after testing the lows, solid support below.
The 80k mark has some temporary pressure, but it’s not a big deal.
The daily chart's upward channel remains intact.
This pullback is just a healthy retracement + main force shakeout, not a signal to go short. The long-term bullish trend is clear, and I expect continued consolidation and upward movement; just be patient for increased volume.
Trading suggestion:
If Bitcoin retraces to the 79000–79500 support zone, go ahead and set up long positions, targeting the 81000–82000 range.
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