$BTC 5.20 Afternoon Bitcoin and Ethereum Latest Ideas and Analysis

Pour passion into building consensus, light the future with faith. Every breath of Bitcoin is the pulse of wealth. In the crypto world, one day is like ten years in the human world; without giving it your all, how can you know your limits? Looking back, Bitcoin dropped from the high point of 77,000 to a low of 76,516 this morning, then entered a consolidation phase. In the afternoon, it surged, and the current level reached 77,100.

From the four-hour candlestick chart, the previous high of 82,000 faced a quick rise and fall, forming a continuous downward staircase, with the top and bottom fully switching. The previous support has all turned into strong resistance. In terms of volume, recent rebounds have seen shrinking volume, with increasing volume on declines and decreasing volume on rises. Capital is fleeing strongly, and buying support is severely lacking. Although the MACD indicator has slightly turned, the overall bearish trend has not reversed; it’s just a weak correction during the decline, a typical false breakout and shakeout pattern. In the short term, the first strong resistance is around 77,700. As long as it cannot stabilize above this level, the bearish trend will not change. The short-term support below is already precarious; if the 76,000 level is broken, a new deep decline is highly likely to begin.

5.20 Afternoon Trading Strategy
Bitcoin around 77,300 can be shorted, target 76,200
Ethereum around 2,130 can be shorted, target 2,103