Analysis: Bitcoin's correction may not be over; market focuses on the battle for the key $80,000 support level.

CoinFeed reported on May 10th, citing Cointelegraph, that Bitcoin fluctuated above $80,000 over the weekend, with no further significant pullback yet. However, many traders believe the short-term correction is not yet over. Data shows that BTC failed to hold above $83,000 after briefly approaching it last week, and the market is refocusing on the key support area around $80,000. Analysis account Cryptic Trades stated that the current low-cycle trend indicates that after encountering resistance near the high-cycle resistance level, Bitcoin is more likely to retrace to the "Bull Market Support Band," which is the area around two key moving averages below $80,000. They believe that as long as BTC can hold this support band and the high-cycle support zone around $75,000, it is still likely to continue its upward trend.