#Gate广场五月交易分享 BTC approaches the previous high again, a breakout is imminent!

Yesterday, BTC mostly traded sideways between $78,000 and $78,600. This morning, it briefly surged to a high of $79,198, then quickly pulled back. As of 10:00 AM, the price has returned to around $78,200. BTC did not break through the previous high of $79,488 in one go, but instead hovered around it. This indicates insufficient buying power at the current level and obvious selling pressure. The timing for a breakout is most likely within the next one or two days.
Next, BTC's trend may still have three possibilities:
1. The $79,198 reached this morning is the temporary high point, and a decline will follow.
2. It will break above $79,000 again within one or two days and possibly set a new high, but fail to break through effectively, instead consolidating around $79,000, forming an M-shaped top with the April 27 high of $79,488, and then officially entering a downtrend after consolidation.
3. It will rise rapidly within one or two days to set a new high, consolidate above $79,500, and then continue upward.

In any case, setting a stop-loss when trading is an unshakable rule. This article is for reference only and does not constitute any investment advice!
— Wishing everyone good luck and daily profits!