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May 7 Morning Bitcoin Analysis
Currently, the bulls are unquestionably in the dominant position in the market, and no trend reversal signals are observed for now; however, the upward pressure is quite strong, and bullish momentum is limited, so a strong rally is not yet expected. Do not blindly chase high; instead, consider positioning around resistance breakouts.
Focus on the support levels at 81,000-80,500.
Once the price stabilizes and stops falling, consider entering long positions to catch rebounds for profit.
Pay attention to the resistance levels at 82,000-83,000.
If encountering resistance, consider light short positions to catch pullbacks for profit.
If a clear breakout occurs, continue to follow the trend.