5.21 Initial Morning Analysis
US stocks and Bitcoin rebounded in sync, but as they approach the high resistance, be cautious of false breakouts that may lure buyers at midnight;
From the 4-hour perspective, Bitcoin's price first rose and then fell, rebounding after touching the lower Bollinger Band support, which fully reflects the significant divergence between bulls and bears. Meanwhile, the MACD histogram continues to shrink, indicating a rapid decline in bullish momentum;
The KDJ indicator has formed a death cross in the overbought zone, releasing a strong correction signal. Overall assessment suggests significant downward pressure in the short term.
Trading Suggestions
Bitcoin: Short at 107000-107500, target around 105000-106000!
