Bitcoin has recently reached a new high; is it a pullback or a continued surge?
Last night it was clear that if Bitcoin does not break the support of 103,669, it will not continue to decline. As for ETH, there’s no need to say more. Enter with a position at 2,480 and add to the position at 2,450.
On May 20, 2025, the total scale of Bitcoin futures open interest reached a historical peak of $72 billion, an increase of 8% from $66.6 billion a week earlier. This data not only sets a record for the cryptocurrency derivatives market.
The overall market is showing a fluctuating recovery trend, with a maximum volatility exceeding 120 points. From a technical structure analysis, a small bearish doji was formed on the daily chart, indicating a balance of bullish and bearish forces.
The biggest gain today is $OM , which shot up immediately after being listed on a certain exchange. Those who remember the last time OM collapsed and suffered know what to expect. The second biggest gainer is $SXT ; this morning, I advised everyone not to chase the highs, and those who listened avoided another loss.
The trading strategy for today is primarily to short on rebounds while closely monitoring the strength of any pullbacks. If the pullback is significant and stabilizing signals appear, one can consider positioning for a low long, flexibly responding to market changes.
Many times, it is necessary to follow the trend.
