05.05.202614:55 Forex Analysis & Reviews: Trading Signals for BITCOIN on May 5-7, 2026: sell below $81,250 (21 SMA - 6/8 Murray)

Relevance up to 08:00 2026-05-19 UTC--4

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During the Asian trading session, Bitcoin reached a new high of $81,260—a key level we've highlighted in our articles as the target for bulls. From this level, Bitcoin is undergoing a minor technical correction but may struggle to continue rising, as it is currently in overbought territory.

If Bitcoin breaks out and consolidates above $81,250 in the coming hours, we could expect it to reach the upper band of the uptrend channel formed since April 29 and potentially hit $81,870; if it surpasses this level, it might reach the 7/8 Murray level around $84,350.

Given that the 6/8 Murray zone acts as strong resistance, we could view this level as a key zone for opening short positions, as we could expect a technical correction toward the 21 SMA around $79,188.

A decisive break and consolidation below the 21 SMA could reverse Bitcoin's bullish cycle, and we could expect it to reach the April 29 low around $75,000; a break below this zone could even push BTC down to the 3/8 Murray level around $72,500.

The Eagle indicator is showing a negative signal; hence, our outlook remains bearish as long as the Bitcoin price consolidates below the 6/8 Murray line around $81,250. This will be seen as a signal to open short positions with targets at around $75,000.

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