5.21 Morning Market

Last night, the cryptocurrency prices experienced rapid wide-range fluctuations. The continued rise of the US stock market did not trigger a strong breakout in the crypto prices but instead caused them to repeatedly tug back and forth between 77k and 78k. The market liquidity continued to weaken, and overall, it remains in a low-level sideways consolidation. Reflecting on the real-time trading last night, the Bitcoin short position entered at 77,654 was precisely taken at 76,997, gaining a 650-point profit in the short term. After two news events did not cause significant shocks, the position was still maintained with a short-term approach.
Such market conditions are an excellent opportunity for short-term rapid accumulation—typical of a scenario where mistakes don’t get punished, and correct calls lead to immediate gains. If you still find it hard to grasp these opportunities, it might be better to just follow the rhythm directly.
Looking at Bitcoin on the four-hour chart, after continuous low-level sideways consolidation, the current price has formed four consecutive bullish days, slowly rebounding and recovering most of the lost space. The price has again moved near the upper band. From the long upper shadow, it’s clear that the current price is in a fierce battle between bulls and bears, with a short-term lack of direction. The rebound and correction are ongoing, but the overall pattern remains dominated by low-level oscillation.
Now, looking at the short-term hourly chart, the price is moving in a slow upward oscillation between the middle and upper bands. Although the bullish momentum has not yet formed an effective continuation of the rebound, the downward trend has slowed in the short term. The continued rise of US stocks has not brought strong momentum to the market, which remains in a weak state. The bearish outlook remains unchanged.
Bitcoin short around 78,500, watch near 77,000.
Ethereum short around 2,150-2,160, watch near 2,100.