May 21st 09:00-22:00 Market Analysis Summary

Today from 9 AM to 10 PM, Bitcoin and Ethereum generally showed a pattern of initially surging higher, then pulling back, and weakening for a late recovery. Bitcoin briefly tested around 78,180 during the daytime, but faced clear resistance above, then gradually weakened, with the lowest point in the evening around 76,696. The intraday volatility exceeded 1,400 points, with the overall structure shifting from early morning oscillation to late evening weakness. Key resistance is concentrated in the 77,800-78,100 range, with support levels around 76,600-77,000. Ethereum followed Bitcoin's decline, with a daytime high near 2,157 and a low around 2,103 in the evening, showing a relatively clear decline. Short-term support is near 2,100, with resistance at 2,130-2,150.

From a capital perspective, trading volume increased during the evening decline, indicating significant short-term selling pressure and leverage unwinding. Market risk appetite decreased, and funds became more cautious. Technically, both Bitcoin and Ethereum showed a downward shift in their high points, MACD indicators are slightly weak in the short term, KDJ has retreated but needs a low-level correction, and RSI is in a weak oscillation zone. No obvious strong news catalysts have appeared, and the market is more influenced by risk asset sentiment and short-term risk aversion. Overall, today’s market mainly moved higher and then pulled back; although there was a rebound in the evening, the trend recovery was limited. Market sentiment remains cautious, with a significant increase in the proportion of funds on the sidelines. $BTC $ETH