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5.2 Midday Market: Bears in control, don’t be fooled by the rebound!
The early rally was full of trap setups! The pressure at 78900-79600 is directly taking effect, key support was broken in seconds, indicators all turned bearish, and the market is heading towards 77500-76800 as expected.
The market remains weak throughout, with the rally proving the bulls are exhausted, support has already turned into resistance, and the bears are fully in control. The current rebound is just a correction, with limited strength, and the strong trend cannot be regained. Going forward, expect continued weak consolidation, with sentiment leaning bearish, and any rebound facing resistance, so shorting on rebounds is the way to go.
Trading suggestion: Short near 78500-79000 on rebounds, targeting 77500-76800. $BTC $ETH #比特币现货交易量新低