Tuesday Market Recap: In the early hours, it oscillated and moved upward from around 76,200. After reaching 77,384 in the morning, it dropped to 76,451, bottomed out, and rebounded. In the afternoon, it came to 77,291. In the evening, price overall traded within the 76,500-77,000 range. After the U.S. stock market opened, it fell to around 76,107, and is now trading in the 76,600-76,200 range. The intraday price swings were not large, but there is still room for positioning. Intraday recap: In the early hours, two long positions were set at 76,100, and the positions were exited in the morning to take profits of 1,000 points. Short at 77,000 in the morning, take profit at 76,500 for 500 points; then flip to short-term long positions, taking profit again for another 500 points in the afternoon. In the afternoon, multiple short positions were placed at the 77,200 resistance area. The first two were taken profit at 76,700, each for 500 points; the final short order directly hit 76,200, capturing a 1,000-point move. All orders were executed smoothly. The whole day’s trading range was less than 1,500 points. You can still steadily “eat the meat” by relying on precise short-term positioning to harvest layer by layer. Your strength overwhelms the ranging market!

From a technical structure perspective: The daily chart of Bitcoin is still in a medium- to long-term bullish structure, but the pullback pressure in the recent period has clearly increased. The previous move saw a rapid drop from the historical high, indicating that the high-level longs have started taking profits. At present, there are no obvious reversal signals in the overall trend. As market expectations for global inflation risks and further rate hikes by the Fed continue to heat up, Bitcoin’s overall upside potential is temporarily suppressed. Recently, tensions in the Middle East have remained intense, and the risk of conflict between the U.S. and Iran has not been significantly eased. Technically, Bitcoin’s upside faces heavy resistance. Besides the intraday high around 77,384, the next major resistance is around 77,200-77,000. Therefore, tonight’s Bitcoin view remains bearish: as long as there is a rebound, short orders should be closed decisively and entered immediately.

5/20 Wednesday early-hours Bitcoin trading strategy: Short around 77,000-77,500, target 76,000; Second Bitcoin trading strategy: Short around 2120-2140, target 2090.