5.20 Morning Bitcoin Market Analysis

Although yesterday’s rebound and repair still looked relatively weak, the downward move has also been gradually slowing down. Bitcoin still hasn’t broken below 76,000. After the U.S. stock market opened last night, I first told my brothers in the live room to wait for the 1-hour chart to close. If 77,000 can’t be broken, then short at the current price for a quick move, targeting 76,500-76,300. Once the market naturally plays out and breaks its way, I then suggested that in the early hours, either wait for 76,000 to break down with volume and then go short targeting 75,500, or if a rebound comes first, watch how 77,000 is capped by resistance before taking a light short. The timing of the whole sequence is basically perfect—every take-profit was hit. Either the market is taking care of me, or it’s simply that if you just follow the trend, it works that easily.

The daily price action is sticking close to the lower Bollinger Band, which suggests there are signs that support around the lower band is stabilizing in the short term. Of course, this could also be just a surface-level appearance of a downtrend continuation—making us think it’s time to buy the dip. So we’ll look at two key levels: first, whether the dip can stabilize around 77,500; second, whether the heavy resistance at 78,000 can be effectively broken. If the breakout is effective, it means the dip has the intention to rebound and continue moving upward. So my thinking is very clear: given the current trend, I won’t impulsively jump into a swing trade on the dip. Now looking at the 4-hour timeframe, the dip is still, as usual, repairing with rebounds. The MACD fast and slow lines are forming a golden cross at low levels, but clearly the momentum isn’t strong. Ethereum’s current trend is relatively weak—I won’t expand on analysis; just follow along with Bitcoin. You only need to note that the trend is weak and the upside/downside room is limited. Bitcoin is still mainly for short-term trades; shorts on rallies near the higher levels.

Bitcoin near 77,300, target to continue lower to break 76,000;
Ethereum near 2,135, target to go lower to 2,080.#Gate广场披萨节