5.18 Afternoon Bitcoin Market Analysis

As expected, during the midday hours the price tested around 76,500, and then quickly rebounded. The current trend for ETH is relatively steady—it’s undergoing narrow-range consolidation near the 2,120 level. Looking back at yourself: you used to panic when the market dropped 5%, but now even if it drops 10%, you can still stay calm and analyze. This isn’t numbness; it’s growth. Your psychological tolerance is improving, and your understanding of the market is deepening.

Technical analysis of Bitcoin on the 1-hour timeframe: after the impact of consecutive bearish candles, the Bollinger Bands have opened with all three bands moving downward in sync. During midday, the BTC price closed around 76,500 with a relatively long lower wick, and the tail momentum has been steadily diminishing. Chasing that tail in the short term isn’t very meaningful. Keep watching for a rebound to above 77,000, then, after confirming the pressure zone, look to enter to catch the tail. Although the KDJ has not yet formed a golden cross, the conditions are already in place; once a low-level golden cross forms, a rebound move is definitely on the cards—the only question is how strong it will be. ETH’s situation is similar, except that the morning bottoming was too aggressive, so the current trend isn’t very clear. For the bigger picture, you can follow the same logic as with Bitcoin.