$BTC 5.22 Afternoon Bitcoin Market Analysis

In the morning, the “big cake” around 77,350 provided a rebound of about 500 points, but the “short-head” did not show any intention to keep following through. After that, during midday, the “short-head” met selling pressure and walked back, completing a retracement. At present, the move is at most around 600 points. “ETH” is fluctuating slightly around 2130, and there has not been any large room for expansion. Don’t trade when you’re carried away by emotions— the more you move, the more mistakes you make. Keeping your mindset level is the most important.

Now, on the daily chart, the “big cake” is still running above the lower band. In the previous sell-off, the price did not break through the lower band support; it only slightly affected the “short-head” structure from earlier. On the current 1-hour level, the overall candlesticks are gradually moving toward the Bollinger Band middle line, and the direction of the band opening is not obvious enough. For the “short-head” rebound, it needs to effectively hold above 77000. A later breakout above 78000 is also a key level. First, observe the situation where “short-head” releases volume. Here, you don’t need to rush to trade the “ETH” either—just watch to see whether there are signs of a bottom forming below. In terms of strategy, continue to look for pullback and stabilization. #Gate广场披萨节 $ETH