5.21 Bitcoin/Ethereum rebound is not a reversal—it's only a continuation of the drop

Bitcoin/Ethereum has rebounded from the recent high point, and especially for Bitcoin the overall trend is still relatively strong. It has once again come close to the 78,000 level. Overall, it looks strong at first glance, but there is still plenty of downside space below. On the 4-hour chart, the latest candlestick is a small-bodied doji, showing intense tug-of-war between bulls and bears, and the market is in a consolidation state. On the daily chart, the last two days’ candlesticks are both bullish, indicating signs that the price has stabilized and is rebounding in the short term. However, overall it is still a rebound within a downtrend.

On the weekly chart, there were multiple bullish candles earlier, but last week saw a single large bearish candle. The current range-bound consolidation and rebound is only another continuation of the downtrend. In terms of technical indicators, the DIF line has already crossed above the DEA line to form a golden cross, and the MACD histogram remains positive and continues to expand, indicating that short-term momentum has shifted from bearish to bullish. But since the DIF and DEA lines are still running below the zero axis, the overall trend remains skewed bearish. Also, the trading volume during the recent rebound is lower than the huge volume seen during the prior selloff, suggesting the rebound strength may be limited—so be alert to further selling pressure.

In terms of strategy, keep holding the short positions after raising the entry levels, or continue to open shorts around the current price near 78,000 and around 2,145. Short-term targets are around 75,500 to 76,500 and 2,060 to 2,090. The “big pizza” grandson has moved up to 78,800, and the “eth” second cousin remains at 2,180.

#TradFi交易分享挑战 #灰度购入超51万HYPE并质押 #Polymarket每日热点