Opinion: Bitcoin's short-term key support level of $76000 is wavering between "bear flag consolidation" and "medium-term fundraising" According to BlockBeats, on May 19th, cryptocurrency analysts stated that Bitcoin as a whole maintained a narrow consolidation, with a decrease in volatility and a lack of clear catalytic factors in the market. The price mainly operates within the range of approximately $76055 to $77666 and fluctuates repeatedly around $77000. The short-term key support is concentrated in the $76000 line, while the $77800 to $78500 area continues to form upward resistance. If the volume breaks through $76800, it is expected to improve short-term sentiment; But if it falls below $75800, it may further explore lower support ranges. After rising from around $70500 to $82800, Bitcoin's momentum significantly weakened, and the overall structure showed a "high point down, low point down" trend. The short-term trend was weak, and the market oscillated between "bear flag consolidation" and "medium-term fundraising". The key breakthrough range is still between $78500 and $79000. If we can recover with increased volume, the price may rise to $80000 to $81000; On the contrary, if the current support is lost, it may fall back to the $75000 or even $74000 range. On a daily basis, Bitcoin is still in a consolidation phase after rising, with an overall macro structure that is still bullish. However, the upward momentum is slowing down, and the market is entering a phase of profit taking and range consolidation. The overall technical indicators are neutral and weak, with an RSI of about 45 in the neutral range. Most short-term moving averages are bearish, but long-term moving averages still support the overall trend. Overall, the market is more likely to fluctuate within the range of $76000 to $79000, waiting for new directional breakthrough signals. [Original link]