May 22 Morning Analysis

Currently, BTC's Bollinger Bands are trending downward overall, with the price continuously under pressure below the middle band. After a volume breakout earlier, a clear downward trend has formed. The rebound from 76,698 in the evening was just a weak correction from oversold conditions. The rebound volume decreased while the downward volume increased, indicating weak buying support. The Bollinger middle band around 77,279 acts as a strong resistance; meanwhile, the KDJ indicator rebounded and then turned down after a high, with bullish momentum rapidly fading, about to form a death cross, further confirming the end of the rebound and the return of bears. The overall trend is a typical continuation of a downtrend, with rebounds facing resistance. The subsequent likely continuation is downward. Trading strategy should be to short on rallies, and resistance levels above should not be broken before considering bullish positions.

Trading suggestion: 78,000-78,500 short, target 76,000-76,500.