May 2nd BTC Morning Market Analysis

Overnight market sentiment has improved, Bitcoin broke out of the narrow range consolidation, and began to rebound upward. BTC stabilized above $76,500 and surged, reaching a high of $79,400 during the session, then slightly pulled back, with the morning quote around $78,200, a 24-hour increase of over 2%, with bulls gradually taking control of the market rhythm.

On the daily chart, BTC closed with a medium-sized positive candle, stabilizing above the short-term moving averages, reducing downside risk. On the four-hour cycle, the Bollinger Bands are opening upward, the MACD has a golden cross with increasing volume, and the RSI indicator is relatively strong, indicating a clear short-term upward trend. On the hourly chart, the key support levels are at $77,800-$77,000; as long as this level holds, the bullish trend continues. The short-term resistance is at $79,500; a breakout requires volume support. Overall, the trend is a sideways upward movement.

Saturday morning personal view on Bitcoin: enter at $77,800-$77,500, stop loss at $77,000, target zone $79,200-$79,800. Strictly control position size, mainly follow the trend with low buy-ins, and take good risk management.$BTC