Wednesday Summary & 5.21 Thursday Early Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions

When there is no trend in one direction, neither losing nor making a profit is a loss; small gains are a blessing.
Reviewing the entire Wednesday, the market finally did not make new lows but instead moved into a gentle oscillating upward trend. Bitcoin started slowly climbing from around 76,500 in the early morning, stabilized above 77,000 in the afternoon, and reached a high of 77,380 in the evening. Although there was no sharp surge, the center of gravity clearly shifted upward, and the daily chart closed with a small bullish candle.
Today, there are not many opportunities for quick gains, and short-term long and short positions are flexibly arranged. Bitcoin gained a total of 1,718 points in space for the day, and Ethereum gained 58 points. Although these are small profits, the key is that there were no losses.

After a day of slow ascent, the current market has entered a high-level narrow-range consolidation phase. Bitcoin is trading in the 77,200-77,500 range, with the hourly Bollinger Bands opening upward. It has already stabilized above 77,000, but the area around 77,800 is a previous dense trading zone, which exerts some pressure. There is still room for a rebound, but volume must support it. In the short term, support below is first seen at the previous low of 76,000. A double bottom support structure has formed below. If it cannot stay above 77,300, it will test the double bottom support downward. If the support holds, it will oscillate upward; if the support breaks, it will continue to decline to 75,000-74,000.
Ethereum’s resistance is in the 2,150-2,190 range, with support around 2,100. Currently, during the rebound, trading volume is gradually increasing but not aggressively, indicating market sentiment remains cautious.
BTC: Buy on dips around 76,800, target 77,800, break above for around 78,500
ETH: Buy on dips around 2,110, target 2,160, break above for around 2,190
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