5.21 Initial Analysis at Dawn
U.S. stocks and Bitcoin rebounded simultaneously, but resistance near the high increases, be wary of false breakouts around midnight;
From the 4-hour perspective, Bitcoin's price rises first and then falls, showing a rebound after touching the lower Bollinger Band support, reflecting significant divergence between bulls and bears. At the same time, the MACD histogram continues to shrink, indicating a rapid decline in bullish momentum;
The KDJ indicator forms a death cross in the overbought region, releasing a strong correction signal. Overall assessment suggests significant downward pressure on the market in the short term.
Trading Suggestions
Bitcoin: Short at 106000-106700, target around 104000-105000!
