5.21 Bitcoin Morning Thoughts

In the early morning, Bitcoin fluctuated upward, reaching a high of 107292 before facing downward pressure. In the morning, it rebounded again, with the pullback momentum weakening, and it is once again challenging the 107000 level. Ethereum dropped to a low of 2438 at midnight, but bulls pushed back in the early morning, reaching a high of 2526. Bitcoin is in a state of high-level correction on the daily chart. Yesterday's small bearish candlestick with a long lower shadow was followed by a medium bullish candlestick this morning, achieving partial recovery at high levels. The daily upward momentum is slowing down, entering a correction period. On the four-hour chart, the Bollinger Bands have begun to narrow, exhibiting a common small cycle adjustment pattern, indicating no trend reversal, and the overall trend remains bullish.

Trading Strategy:

Bitcoin: Long around 106300 - 105500, target near 108000

Ethereum: Long around 2490 - 2470, target 2600