Market Analysis for the Morning of May 19 $BTC $ETH

Last night, Bitcoin showed a pullback and bottoming pattern, repeatedly testing the key integer support level below, and in the early hours, it formed a spike reversal pattern, strongly completing a V-shaped rally, with the current price stabilizing around 77,100. Ethereum moved in sync with Bitcoin, experiencing a V-shaped rebound after the bottom, currently trading near 2140, with mainstream cryptocurrencies showing highly synchronized movements.

From a technical perspective, the middle band of the Bollinger Bands is at 77,000. The current coin price is steadily above the middle band, indicating that the decline in the early hours was just a trap set by the main players to induce a false sell-off, a typical bearish trap. The chart shows that a secondary bottom has been formed in the short term, and support below is very solid.

The first short-term resistance is near the upper Bollinger Band at 77,400. If the bulls increase volume and break through this level effectively, it will directly open the upward space, aiming to challenge the 78,000 integer level.

Trading Suggestions
Buy long positions near 77,000 on Bitcoin's pullback, targeting around 78,500-79,000.