5.21 Morning Market Analysis

Last night, Bitcoin's 15-minute chart showed a volatile upward movement, reaching a high of 77,700 before facing slight resistance and pulling back. After testing support, it quickly stabilized and rebounded, currently consolidating around the 77,400 level. The upper band of the Vegas channel forms short-term resistance, with the midline strongly supporting the price. The rebound accompanied by decreasing volume indicates a main force shakeout and adjustment, with bearish momentum only temporarily released. Overall, this is a healthy pullback during an upward trend, with bulls gathering strength.

The four-hour major cycle remains intact with a bullish trend. The current price of 77,400 has stabilized above the Vegas midline of 77,000, maintaining a solid bullish structure. Large capital holdings on the market still favor the bulls, and bearish forces are weak. As long as the key support at 77,000 holds, the upward pattern will not be broken. After a period of consolidation, the market is expected to resume its upward push.

Trading Suggestions
Consider going long near 76,700-77,200, targeting around 79,000-80,000.