PANews|5月 10, 2026 14:13
[Analysis: Bitcoin's Correction May Not Be Over, Market Focuses on $80,000 Key Support Battle]
According to Cointelegraph, Bitcoin fluctuated above $80,000 over the weekend without experiencing a significant further decline. However, several traders believe the short-term correction is not yet over. Data shows that after BTC briefly approached $83,000 last week, it failed to hold its ground, and the market has refocused on the key support area near $80,000.
The analysis account Cryptic Trades stated that the current low-cycle trend indicates Bitcoin is more likely to retest the 'Bull Market Support Band'—a key area of two moving averages located below $80,000—after facing resistance near high-cycle resistance levels. They believe that as long as BTC can hold this support band and the high-cycle support zone near $75,000, it is still inclined to continue its upward trajectory in the future.
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