Thursday, May 21st Bitcoin and Ethereum Market Analysis and Trading Suggestions

Looking back from early morning until now, the market has continued yesterday's upward momentum, with Bitcoin steadily rising from around 77,200, reaching a high of about 78,150 in the early hours, then consolidating in the 77,700-77,900 range. Ethereum also strengthened simultaneously, reaching a high of around 2,157. Overall, the rebound structure remains healthy; although the pace of increase is not fast, the lows are continuously rising, showing a breakout and retest to confirm support for an upward pattern.
Zhi Lan had already indicated in the early morning strategy that retesting to go long, and all the actual trading positions have been successfully closed for profit.
Bitcoin 77,011 long → exited at 77,700, capturing 689 points of profit
Ethereum 2,129 long → exited at 2,153, capturing 24 points of profit

From the current market situation, the highs and lows are gradually rising, and the center of gravity is shifting upward, indicating signs of a bullish reversal. On the hourly chart, Bitcoin’s Bollinger Bands are opening upward, with the candlesticks already above the middle band. Short-term support has formed at 77,000-77,300, with resistance around 78,300. The MACD has a bullish crossover upward, with the red histogram bars continuing to expand, indicating ongoing bullish momentum. Ethereum also shows an upward-opening Bollinger Band, with the middle band support at 2,131. The 2,100-2,130 area below is well supported, while the short-term resistance zone is between 2,150 and 2,190. It’s important to note that trading volume has not significantly increased, suggesting the market is still hesitant. However, hesitation during an upward rebound is normal in the early stages of a rally, and we remain optimistic about a continued bullish rebound.
BTC: Buy on retest near 77,300, target around 78,300-79,000
ETH: Buy on retest near 2,120, target around 2,200-2,220
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